Capital Market Transactions Date

Issuer

2015 Transactions KBW's Role

Dec-15 Dec-15 Dec-15 Nov-15 Nov-15 Nov-15 Nov-15 Nov-15 Nov-15 Nov-15 Oct-15 Oct-15 Oct-15 Sep-15 Sep-15 Sep-15 Sep-15 Aug-15 Aug-15 Aug-15 Aug-15 Aug-15 Aug-15 Jul-15 Jul-15 Jul-15 Jul-15 Jun-15 Jun-15 Jun-15 Jun-15 Jun-15 Jun-15 Jun-15 Jun-15 Jun-15 Jun-15 Jun-15 Jun-15 May-15 May-15 May-15 May-15 Apr-15 Apr-15 Apr-15 Apr-15 Apr-15 Apr-15 Apr-15 Mar-15 Mar-15 Mar-15 Mar-15 Mar-15 Mar-15 Mar-15 Mar-15 Mar-15 Feb-15 Feb-15 Feb-15 Feb-15 Feb-15 Feb-15 Jan-15 Jan-15 Jan-15

1st Source Corp (SRCE) Carolina Financial Corp (CARO) WashingtonFirst Bankshares Inc (WFBI) Opus Bank (OPB) Equity BancShares Inc (EQBK) SBT Bancorp Inc (SBTB) The Huntington National Bank (HBAN) Stifel Financial (SF) Maiden Holdings (MHLD) Horace Mann Educators Corp. (HMN) Security State Bancshares Inc. Newtek Business Services Corp (NEWT) Allegiance Bancshares Inc (ABTX) WashingtonFirst Bankshares Inc (WFBI) New Mountain Finance Corp (NMFC) Bridge Bancorp, Inc. (BDGE) AmTrust Financial Services, Inc. (AFSI) Talmer Bancorp Inc (TLMR) Bankwell Financial Group, Inc. (BWFG) Capital One Financial Corporation (COF) Houlihan Lokey (HLI) National General Holdings Corp (NGHC) National General Holdings Corporation (NGHC) TriplePoint Venture Growth BDC Corp. (TPVG) Citizens Financial Group Inc (CFG) Great Western Bancorp Inc (GWB) Live Oak Bancshares Inc (LOB) ConnectOne Bancorp, Inc. (CNOB) Western Alliance Bancorporation (WAL) CoBiz Financial Inc. (COBZ) Cantor Fitzgerald OM Asset Management (OMAM) Valley National Bancorp (VLY) Valley National Bancorp (VLY) AmTrust Financial Services, Inc. (AFSI) Fulton Financial Corporation (FULT) Midland States Bancorp, Inc. Midland States Bancorp, Inc. Associated Banc-Corp (ASB) Fidelity Bank (LION) JPMorgan Chase & Co. (JPM) Black Knight Financial Services (BKFS) QCR Holdings (QCRH) Great Western Bancorp (GWB) FS Investment Corporation (FSIC) New York Mortgage Trust, Inc. (NYMT) Blackstone Mortgage Trust Inc (BXMT) Golub Capital BDC Inc (GBDC) Capitala Finance Corp (CPTA) Colony Capital, Inc. (CLNY) Banc of California, Inc. (BANC) Banc of California, Inc. (BANC) Foundation Bancorp, Inc. (FDNB) Citizens Financial Group Inc (CFG) Hercules Technology Growth Capital Inc (HTGC) National General Holdings Corporation (NGHC) Horizon Technology Finance Corp (HRZN) National Commerce Corp (NCOM) AmTrust Financial Services, Inc. (AFSI) First NBC Bank Holding Company (FNBC) JP Morgan Chase & Co. (JPM) Avenue Financial Holdings, Inc (AVNU) Sterling Bancorp (STL) Triangle Capital Corporation (TCAP) The Community Financial Corp (TCFC) SVB Financial Group (SIVB) Harvest Capital Credit Corporation (HCAP) Avenue Financial Holdings, Inc (AVNU)

Sole Bookrunner Joint Bookrunner Sole Bookrunner Joint Bookrunner Joint Bookrunner Sole Bookrunner Co-Manager Sole Bookrunner Lead Manager Joint Bookrunner Referral Agent Joint Bookrunner Co-Manager Placement Agent Joint Bookrunner Co-Manager Joint Bookrunner Sole Bookrunner Placement Agent Co-Manager Joint Bookrunner Co-Manager Joint Bookrunner Joint Bookrunner Co-Manager Co-Manager Joint Bookrunner Placement Agent Co-Manager Joint Bookrunner Co-Manager Co-Manager Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Placement Agent Placement Agent Co-Manager Placement Agent Co-manager Co-Manager Joint Bookrunner Co-Manager Co-Manager Joint Bookrunner Co-Manager Co-Manager Joint Bookrunner Co-manager Joint Bookrunner Joint Bookrunner Sole Bookrunner Co-Manager Joint Bookrunner Bookrunner Joint Bookrunner Sole Bookrunner Joint Bookrunner Placement Agent Co-Manager Sole Bookrunner Joint Bookrunner Lead Bookrunner Sole Bookrunner Co-Manager Lead Bookrunner Sole Placement Agent

Date

Issuer

Dec-14 Dec-14 Nov-14 Nov-14

SB Financial Group (SBFG) James River Group Holdings Ltd (JRVR) FS Investment Corp (FSIC) New York Mortgage Trust Inc (NYMT)

Keefe, Bruyette & Woods

($mm)

Offering Type

$36.6 $34.5 $33.1 $225.8 $50.2 $8.4 $500.0 $300.0 $150.0 $250.0 $12.5 $38.0 $62.8 $25.0 $81.3 $40.0 $125.0 $144.5 $25.5 $500.0 $253.6 $218.5 $100.0 $50.0 $2,571.4 $324.8 $93.5 $50.0 $150.0 $60.0 $375.0 $267.0 $115.0 $100.0 $150.0 $150.0 $35.3 $15.0 $65.0 $75.0 $1,425.0 $507.2 $67.2 $494.5 $275.0 $90.0 $701.5 $69.7 $64.1 $287.5 $115.0 $175.0 $15.0 $3,687.2 $103.5 $165.0 $33.2 $38.1 $182.5 $60.0 $1,380.0 $31.6 $89.7 $86.3 $23.0 $350.0 $27.5 $20.0

Common Stock - Secondary Common Stock - Follow On Common Stock - Follow On Common Stock - Secondary Common Stock - IPO Common Stock - Follow On Senior Debt Senior Unsecured Notes Preferred Equity Senior Unsecured Notes Subordinated Debt Common Stock - Follow On Common Stock - IPO Subordinated Debt Common Stock - Follow On Subordinated Debt Subordinated Debt Common Stock - Secondary Subordinated Debt Preferred Equity Common Stock - IPO Common Stock - Follow On Subordinated Debt Senior Debt Common Stock - Follow On Common Stock - Follow On Common Stock - IPO Subordinated Debt Subordinated Debt Subordinated Debt Senior Notes Common Stock - Follow On Preferred Equity Subordinated Debt Subordinated Debt Subordinated Debt Subordinated Debt Subordinated Debt Preferred Equity Subordinated Debt Preferred Equity Common Stock - IPO Common Stock - Follow On Common Stock - Follow On Senior Notes Preferred Equity Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Preferred Equity Preferred Equity Senior Notes Convertible Preferred Equity Common Stock - Follow On Common Stock - Follow On Preferred Equity Common Stock - Follow On Common Stock - IPO Preferred Equity Subordinated Debt Preferred Stock Common Stock - IPO Common Stock - Follow On Senior Notes Subordinated Notes Senior Notes Senior Notes Subordinated Notes

2014 Transactions KBW's Role

($mm)

Offering Type

Sole Placement Agent Joint Bookrunner Joint Bookrunner Lead Manager

$15.0 $246.6 $325.0 $114.3

Convertible Preferred Common Stock - IPO Senior Notes Common Stock - Follow On

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Capital Market Transactions Nov-14 Nov-14 Nov-14 Nov-14 Nov-14 Nov-14 Oct-14 Oct-14 Oct-14 Oct-14 Oct-14 Sep-14 Sep-14 Sep-14 Sep-14 Sep-14 Sep-14 Sep-14 Sep-14 Aug-14 Aug-14 Aug-14 Aug-14 Aug-14 Aug-14 Jul-14 Jul-14 Jul-14 Jul-14 Jul-14 Jul-14 Jul-14 Jul-14 Jul-14 Jul-14 Jul-14 Jun-14 Jun-14 Jun-14 Jun-14 Jun-14 Jun-14 Jun-14 Jun-14 Jun-14 May-14 May-14 May-14 May-14 May-14 May-14 May-14 May-14 May-14 May-14 May-14 May-14 Apr-14 Apr-14 Apr-14 Apr-14 Apr-14 Apr-14 Apr-14 Apr-14 Apr-14 Apr-14 Apr-14 Mar-14 Mar-14 Mar-14 Feb-14 Feb-14 Feb-14 Feb-14 Feb-14 Feb-14 Jan-14 Jan-14 Jan-14

TCP Capital Corp (TCPC) Essent Group Ltd (ESNT) Moelis & Co (MC) THL Credit (TCRD) Triumph Bancorp Inc (TBK) StoneCastle Financial Corp (BANX) Main Street Capital Corporation (MAIN) New Mountain Finance Corp (NMFC) Great Western Bancorp Inc (GWB) Old Mutual Asset Management (OMAM) Eagle Point Credit Company (ECC) Citizens Financial Group (CFG) Medley Management (MDLY) Old Republic International Corporation (ORI) PennantPark Investment Corp (PNNT) AmTrust Financial Services (AFSI) PennantPark Investment Corp (PNNT) Arlington Asset Investment Corp (AI) Ellington Financial LLC (EFC) Medley Capital Corp (MCC) C1 Financial Inc (BNK) Triangle Capital Corp (TCAP) RAIT Financial Trust (RAS) Arbor Realty Trust (ABR) Green Bancorp Inc (GNBC) FCB Financial Holdings Inc (FCB) Synchrony Financial (SYF) TCP Capital Corp (TCPC) Independent Bank Group (IBTX) Ares Capital Corp (ARCC) Stifel Financial (SF) Mutual of Omaha Insurance Company Hercules Technology Growth Capital (HTGC) FS Investment Corp (FSIC) ConnectOne Bancorp Inc (CNOB) River Valley Bancorp (RIVR) Popular Inc (BPOP) AmTrust Financial Services (AFSI) Open Bank (OPBK) Chemical Financial Corp (CHFC) JP Morgan Chase & Co. (JPM) Commerce Bancshares (CBSH) Colony Financial Inc (CLNY) TCP Capital Corp (TCPC) Capitala Finance Corp Five Oaks Investment Corp CommunityOne Bancorp (COB) Banc of California Inc (BANC) Bankwell Financial Group Inc (BWFG) SVB Financial Group (SIVB) NorthStar Realty Finance Corp (NRF) NorthStar Realty Finance Corp (NRF) Alcentra Capital Corp (ABDC) Radian Group (RDN) Arbor Realty Trust (ABR) New Investors Bancorp Inc (ISBC) Ares Management LP (ARES) Stellus Capital Investment Corp (SCM) American Homes 4 Rent (AMH) Moelis & Co. (MC) Opus Bank (OPB) Arthur J. Gallagher & Co. (AJG) Ally Financial (ALLY) Hampton Roads Bankshares (HMPR) New Mountain Finance Corp (NMFC) RAIT Financial Trust (RAS) Old Second Bancorp (OSBC) New York Mortgage Trust (NYMT) Square 1 Financial (SQBK) Golub Capital BDC (GBDC) Artisan Partners Asset Management (APAM) Five Oaks Investment Corp (OAKS) Fifth Street Finance Corp (FSC) Talmer Bancorp (TLMR) Capital One Financial Corporation (COF) CM Finance (CMFN) Ladder Capital Corp (LADR) JMP Group (JMP) American Capital Senior Floating (ACSF) Altisource Residential Corp (RESI)

Keefe, Bruyette & Woods

Joint Bookrunner Co-Manager Co-Manager Joint Bookrunner Co-Manager Joint Bookrunner Joint Bookrunner Lead Manager Co-Manager Co-Manager Joint Bookrunner Co-Manager Joint Bookrunner Co-Manager Lead Manager Lead Manager Joint Bookrunner Joint Bookrunner Joint Bookrunner Lead Manager Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Lead Manager Co-Manager Joint Bookrunner Co-Manager Co-Manager Joint Bookrunner Co-Manager Physical Bookrunner Co-Manager Sole Manager Sole Bookrunner Co-Manager Lead Manager Sole Placement Agent Sole Bookrunner Co-Manager Co-Manager Co-Manager Co-Manager Joint Bookrunner Physical Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Co-Manager Co-Manager Joint Lead Manager Joint Bookrunner Co-Manager Joint Bookrunner Joint Bookrunner Co-Manager Sole Bookrunner Co-Manager Co-Manager Joint Bookrunner Co-Manager Co-Manager Independent Underwriter Lead Manager Joint Bookrunner Sole Bookrunner Co-Manager Joint Bookrunner Co-Manager Co-Manager Joint Bookrunner Co-Manager Joint Bookrunner Co-Manager Joint Bookrunner Co-Manager Joint Bookrunner Joint Bookrunner Co-Manager

$100.6 $307.1 $200.8 $45.0 $92.5 $41.4 $175.0 $72.7 $331.2 $339.2 $103.1 $3,461.5 $108.0 $400.0 $250.0 $80.0 $114.6 $87.3 $191.4 $74.9 $46.9 $132.8 $71.9 $39.2 $80.9 $181.3 $2,955.4 $107.6 $65.0 $263.8 $300.0 $300.0 $103.0 $400.0 $44.3 $19.4 $450.0 $105.0 $30.0 $80.5 $880.0 $150.0 $86.3 $108.0 $113.4 $17.3 $10.1 $57.9 $48.6 $453.0 $533.0 $250.0 $111.2 $258.5 $58.6 $2,195.8 $220.2 $25.0 $185.0 $186.9 $163.3 $945.0 $2,556.1 $3.3 $57.6 $60.0 $68.3 $113.5 $119.7 $66.2 $575.6 $37.3 $250.0 $232.6 $2,000.0 $115.0 $259.0 $48.3 $172.5 $482.8

Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Senior Notes Common Stock - IPO Common Stock - Follow On Senior Notes Common Stock - Follow On Common Stock - IPO Common Stock - IPO Common Stock - IPO Common Stock - IPO Common Stock - IPO Senior Notes Senior Notes Preferred Stock Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - IPO Common Stock - Follow On Senior Notes Senior Notes Common Stock - IPO Common Stock - IPO Common Stock - IPO Common Stock - Follow On Subordinated Notes Common Stock - Follow On Senior Notes Subordinated Notes Senior Notes Unsecured Notes Common Stock - Secondary Common Stock - Follow On Senior Notes Preferred Stock Placement - Common Common Stock - Follow On Preferred Stock Preferred Stock Preferred Stock Convertible Senior Notes Senior Notes Preferred Stock Common Stock - Secondary Common Stock - Follow On Common Stock - IPO Common Stock - Follow On Common Stock - Follow On Preferred Stock Common Stock - IPO Common Stock - Follow On Senior Notes Common Stock - 2nd Step Conversion Common Stock - IPO Senior Notes Preferred Stock Common Stock - IPO Common Stock - IPO Common Stock - Follow On Common Stock - IPO Common Stock - Follow On Common Stock - Follow On Senior Notes Common Stock - Follow On Common Stock - Follow On Common Stock - IPO Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Senior Notes Common Stock - IPO Senior Notes Common Stock - IPO Common Stock - IPO Senior Notes Common Stock - IPO Common Stock - Follow On

www.kbw.com

Capital Market Transactions Jan-14

New York Mortgage Trust (NYMT)

Co-Manager

Date

Issuer

2013 Transactions KBW's Role

Dec-13 Dec-13 Dec-13 Dec-13 Dec-13 Dec-13 Dec-13 Dec-13 Nov-13 Nov-13 Nov-13 Nov-13 Nov-13 Nov-13 Oct-13 Oct-13 Oct-13 Oct-13 Oct-13 Oct-13 Oct-13 Oct-13 Oct-13 Oct-13 Oct-13 Oct-13 Sep-13 Sep-13 Sep-13 Sep-13 Sep-13 Sep-13 Sep-13 Sep-13 Sep-13 Aug-13 Aug-13 Aug-13 Aug-13 Aug-13 Jul-13 Jul-13 Jul-13 Jun-13 Jun-13 Jun-13 Jun-13 Jun-13 Jun-13 Jun-13 Jun-13 May-13 May-13 May-13 May-13 May-13 May-13 May-13 May-13 May-13 May-13 May-13 Apr-13 Apr-13 Apr-13 Apr-13 Apr-13 Apr-13 Apr-13 Apr-13 Apr-13 Apr-13 Mar-13 Mar-13 Mar-13

American Homes 4 Rent (AMH) First Citizens Banc Corp (FCZA) Five Oaks Investment Corp (OAKS) TCP Capital Corp (TCPC) NorthStar Realty Finance Corp (NRF) Ares Capital Corp (ARCC) Regional Management Corp (RM) Medallion Financial Corp (TAXI) First Internet Bancorp (INBK) GAIN Capital Holdings Inc (GCAP) JGWPT Holdings (JGW) StoneCastle Financial Corp (BANX) Blue Capital Reinsurance Holdings (BCRH) Artisan Partners Asset Management (APAM) Essent Group (ESNT) FNB Corp (FNB) FNB Corp (FNB) BankUnited, Inc. (BKU) Citigroup (C) Fidelity National Financial (FNF) Voya Financial - ING U.S. (VOYA) Springleaf Holdings (LEAF) Resource Capital Corp (RSO) New Mountain Finance Corp (NMFC) Stonegate Mortgage Corp (SGM) The Navigators Group (NAVG) Tri-County Financial Corporation (TCFC) TCP Capital Corp (TCPC) Altisource Residential Corp (RESI) RLI Corp (RLI) Valley National Bancorp (VLY) Regional Management (RM) Fifth Street Finance Corp (FSC) Chemical Financial Corp (CHFC) Golub Capital BDC (GBDC) Independent Bank Corp (IBCP) Third Point Reinsurance Ltd (TPRE) First BanCorp (FBP) Willis Group Holdings (WSH) Willis Group Holdings (WSH) Zions Bancorporation (ZION) Synovus Financial Corp (SNV) PennantPark Floating Rate Capital (PFLT) Ares Commercial Real Estate Corp (ACRE) Home Loan Servicing Solutions (HLSS) THL Credit Inc (TCRD) New Mountain Finance Corp (NMFC) Icahn Enterprises LP (IEP) First PacTrust Bancorp, Inc. (BANC) Fidelity Southern Corporation (LION) AmTrust Financial Services (AFSI) New York Mortgage Trust (NYMT) Blackstone Mortgage Trust, Inc. (BXMT) Oaktree Capital Group, Inc. (OAK) TCP Capital Corp (TCPC) Zions Bancorporation (ZION) First NBC Bank Holding Co (NBCB) General Electric Capital Corp (GE) Ellington Financial LLC (EFC) TriState Capital Holdings, Inc. (TSC) Harvest Capital Credit Corporation (HCAP) Voya Financial - ING U.S. (VOYA) Zions Bancorporation (ZION) US Bancorp (USB) BB&T Corporation (BBT) Boston Private Financial Holdings (BPFH) First Republic Bancorp (FRC) Dynex Capital (DX) Fifth Street Finance (FSC) Westbury Bancorp, Inc. (WBB) NorthStar Realty Finance Corp. (NRF) Independent Bank Group (IBTX) Fifth Street Finance Corp (FSC) Main Street Capital Corp. (MAIN) Eastern Virginia Bancshares (EVBS)

Lead Manager Sole Placement Agent Physical Bookrunner Joint Bookrunner Co-Manager Co-Manager Joint Bookrunner Joint Bookrunner Co-Manager Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Co-Manager Co-Manager Joint Bookrunner Physical Bookrunner Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Lead Manager Co-Manager Joint Bookrunner Sole Bookrunner Joint Bookrunner Co-Manager Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Sole Bookrunner Co-Manager Sole Bookrunner Co-Manager Co-Manager Co-Manager Co-Manager Joint Bookrunner Co-Manager Joint Bookrunner Co-Manager Co-Manager Lead Manager Lead Manager Co-Manager Joint Bookrunner Joint Bookrunner Lead Manager Joint Bookrunner Co-Manager Co-Manager Joint Bookrunner Joint Bookrunner Joint Bookrunner Underwriter Co-Manager Joint Bookrunner Joint Bookrunner Co-Manager Joint Bookrunner Co-Manager Co-Manager Physical Bookrunner Underwriter Joint Bookrunner Joint Bookrunner Sole Manager Co-Lead Manager Joint Bookrunner Lead Book Manager Joint Book Manager Sole Placement Agent

Keefe, Bruyette & Woods

$78.3

Common Stock - Follow On

($mm)

Offering Type

$100.0 $25.0 $20.0 $82.8 $669.9 $292.6 $72.7 $47.6 $31.7 $70.0 $157.0 $113.1 $125.0 $309.1 $385.3 $57.5 $110.9 $305.9 $1,300.0 $530.7 $1,119.5 $411.4 $115.0 $98.9 $130.6 $265.0 $29.8 $68.9 $360.9 $150.0 $125.0 $110.1 $181.9 $57.6 $58.5 $102.5 $317.0 $208.9 $250.0 $275.0 $5.1 $130.0 $65.2 $251.1 $325.7 $111.0 $98.2 $120.9 $40.3 $69.0 $115.0 $75.0 $659.8 $430.7 $80.9 $300.9 $115.0 $750.0 $127.5 $75.4 $57.5 $1,461.9 $126.2 $500.0 $500.0 $50.0 $190.0 $56.3 $156.6 $50.9 $200.0 $95.7 $86.3 $92.0 $45.0

Perpetual Preferred Convertible Preferred Perpetual Preferred Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Convertible Senior Notes Common Stock - IPO Common Stock - IPO Common Stock - IPO Common Stock - Follow On Common Stock - IPO Common Stock - Follow On Perpetual Preferred Common Stock - Follow On Perpetual Preferred Common Stock - Follow On Common Stock - Follow On Common Stock - IPO $1,000 Par Convertible Senior Notes Common Stock - Follow On Common Stock - IPO Senior Notes Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Senior Notes Subordinated Notes Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - IPO Common Stock - Follow On Senior Notes - 10yr Senior Notes - 30yr Perpetual Preferred Perpetual Preferred Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Perpetual Preferred Common Stock - Follow On Perpetual Preferred Perpetual Preferred Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Perpetual Preferred Common Stock - IPO $25 Par Senior Notes Common Stock - Follow On Common Stock - IPO Common Stock - IPO Common Stock - IPO Perpetual Preferred Perpetual Preferred Perpetual Preferred Perpetual Preferred Perpetual Preferred Perpetual Preferred Common Stock - Follow On Common Stock - Full Conversion Perpetual Preferred Common Stock - IPO $25 Par Senior Notes $25 Par Senior Notes Convertible Preferred & Common Stock - PIPE

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Capital Market Transactions Mar-13 Mar-13 Mar-13 Mar-13 Mar-13 Mar-13 Mar-13 Mar-13 Mar-13 Mar-13 Mar-13 Mar-13 Feb-13 Feb-13 Feb-13 Feb-13 Jan-13

The First Bancorp, Inc (FNLC) Five Oaks Investment Corp (OAKS) PennantPark Floating Rate Capital (PFLT) New Mountain Finance Corp (NMFC) TICC Capital Corp (TICC) Medley Capital Corp (MCC) Canopius Holdings Bermuda Ltd. (Tower Group) (CHBL) Prudential Financial, Inc. (PRU) BankUnited, Inc. (BKU) Artisan Partners Asset Management (APAM) MGIC Investment Corp (MTG) MGIC Investment Corp (MTG) Radian Group Inc (RDN) Radian Group Inc (RDN) American Capital Mortgage Investment Corp (MTGE) ConnectOne Bancorp, Inc. (CNOB) Newcastle Investment Corp (NCT)

Sole Manager Joint Bookrunner Joint Bookrunner Co-Lead Manager Lead Manager Joint Bookrunner Co-Manager Underwriter Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Lead Manager Lead Manager Co-Manager

$10.8 $60.5 $48.3 $98.7 $35.2 $60.0 $216.7 $650.0 $569.1 $381.4 $500.0 $695.3 $400.0 $312.8 $589.9 $51.5 $537.6

Common Stock - Follow On Common Stock - IPO Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On $25 Par Senior Notes Private Placement $25 Par Jr Subordinated Notes Common Stock - Follow On Common Stock - IPO $1,000 Par Convertible Senior Notes Common Stock - Follow On $1,000 Par Convertible Senior Notes Common Stock - Follow On Common Stock - Follow On Common Stock - IPO Common Stock - Follow On

Date

Issuer

2012 Transactions KBW's Role

($mm)

Offering Type

Dec-12 Dec-12 Dec-12 Dec-12 Nov-12 Nov-12 Nov-12 Nov-12 Nov-12 Nov-12 Nov-12 Nov-12 Nov-12 Oct-12 Oct-12 Oct-12 Oct-12 Oct-12 Oct-12 Oct-12 Oct-12 Oct-12 Oct-12 Oct-12 Sep-12 Sep-12 Sep-12 Sep-12 Sep-12 Sep-12 Sep-12 Sep-12 Sep-12 Sep-12 Sep-12 Sep-12 Sep-12 Sep-12 Sep-12 Sep-12 Sep-12 Aug-12 Aug-12 Aug-12 Aug-12 Aug-12 Aug-12 Aug-12 Aug-12 Aug-12 Aug-12 Aug-12 Aug-12 Aug-12 Aug-12 Aug-12 Aug-12 Aug-12 Aug-12

Home Loan Servicing Solutions (HLSS) Silver Bay Realty Trust Corp (SBY) Georgia Commerce Bancshares Banco Popular Espanol SA (POP) NewBridge Bancorp (NBBC) CAI International Inc (CAP) Meetinghouse Bancorp, Inc. (MTGB) NextEra Energy Capital Meetinghouse Bancorp (MTGB) City National Bank EverBank Capital One Financial Capital One Financial Oriental Financial Group (OFG) Yadkin Valley Financial Corp (YAVY) Walter Investment Management (WAC) Direct Line Insurance Group Discover Financial Services Entertainment Properties Trust Madison County Financial, Inc. (MCBK) Affiliated Managers Group General Electric Capital Corp Talanx AG Apollo Investment Corporation RBS Citizens Gabelli Equity Trust Ares Capital Corp Aflac Inc Capital Bank Financial Corp (CBF) National Bank Holdings Corp (NBHC) Suffolk Bancorp (SUBK) Texas Capital Bancshares Torchmark Corporation Torchmark Corporation PNC Financial Services Apollo Residential Bank of New York Mellon Public Storage Inc American International Group (AIG) Annaly Capital Management Home Loan Servicing Solutions (HLSS) Lakeland Bancorp, Inc. (LBAI) Zions Bancorp Sound Financial Bancorp, Inc. Sound Financial Bancorp, Inc. (SFBC) Maiden Holdings North America WSFS Financial Corp Fidelity National Financial American Financial Group JPMorgan M&T Bank Hatteras Financial Corp Reinsurance Group of America Capital One Financial Susquehanna Bancshares SL Green Realty Taubman Centers Inc Zions Bancorp Affiliated Managers Group

Co-Manager Co-Manager Lead Placement Agent Co-Manager Placement Agent Bookrunner Sole Manager Underwriter Bookrunner Co-Manager Co-Manager Co-Manager Co-Manager Lead Manager Sole Placement Agent Co-Manager Underwriter Underwriter Underwriter Sole Manager Selling Group Underwriter Co-Manager Selling Group Co-Manager Underwriter Underwriter Underwriter Co-Manager Joint Bookrunner Sole Manager Selling Group Co-Manager Co-Manager Underwriter Selling Group Underwriter Underwriter Co-Manager Underwriter Co-Manager Sole Manager Selling Group Sole Manager Bookrunner Co-Manager Co-Lead Manager Co-Manager Co-Manager Underwriter Selling Group Co-Manager Underwriter Underwriter Co-Manager Selling Group Selling Group Selling Group Underwriter

$480.7 $245.1 $25.5 $3,267.8 $56.0 $81.5 $6.6 $500.0 $6.6 $175.0 $150.0 $750.0 $250.0 $48.7 $45.0 $289.8 $1,449.4 $500.0 $125.0 $31.9 $125.0 $500.0 $664.3 $150.0 $350.0 $105.0 $175.0 $500.0 $180.0 $158.3 $25.0 $100.0 $125.0 $300.0 $450.0 $150.0 $550.0 $400.0 $20,700.0 $460.0 $249.9 $6.0 $20.0 $14.2 $14.2 $150.0 $55.0 $400.0 $125.0 $1,100.0 $381.0 $287.5 $400.0 $875.0 $150.0 $230.0 $192.5 $15.0 $200.0

Common Stock - Follow On Common Stock - IPO Private Placement - Common Rights Offering Common Stock - PIPE Common Stock - Follow On Common Stock - Standard Conversion $25 Par Jr Subordinated Notes Common Stock - IPO Perpetual Preferred Perpetual Preferred Senior Notes Senior Notes Common Stock - Follow On Convertible Preferred - PIPE Common Stock - Follow On Common Stock - IPO Perpetual Preferred Perpetual Preferred Common Stock - Standard Conversion $25 Par Senior Notes $25 Par Senior Notes Common Stock - IPO $25 Par Senior Notes Subordinated Notes Perpetual Preferred $25 Par Senior Notes $25 Par Subordinated Notes Common Stock - IPO Common Stock - IPO Common Stock - PIPE $25 Par Subordinated Notes $25 Par Jr Subordinated Notes Senior Notes Perpetual Preferred Perpetual Preferred Perpetual Preferred Perpetual Preferred Common Stock - Follow On Perpetual Preferred Common Stock - Follow On Common Stock - Follow On Senior Notes Common Stock - 2nd Step Conversion Common Stock - 2nd Step Conversion Perpetual Preferred $25 Par Senior Notes Senior Notes $25 Par Senior Notes Perpetual Preferred Perpetual Preferred Perpetual Preferred Perpetual Preferred Perpetual Preferred Senior Notes Perpetual Preferred Perpetual Preferred Medium-Term Notes $25 Par Senior Notes

Keefe, Bruyette & Woods

www.kbw.com

Capital Market Transactions Aug-12 Jul-12 Jul-12 Jul-12 Jul-12 Jul-12 Jul-12 Jul-12 Jul-12 Jul-12 Jul-12 Jul-12 Jun-12 Jun-12 Jun-12 Jun-12 Jun-12 Jun-12 Jun-12 Jun-12 Jun-12 Jun-12 May-12 May-12 May-12 May-12 May-12 May-12 May-12 May-12 May-12 May-12 May-12 May-12 May-12 Apr-12 Apr-12 Apr-12 Apr-12 Apr-12 Apr-12 Apr-12 Apr-12 Mar-12 Mar-12 Mar-12 Mar-12 Mar-12 Mar-12 Mar-12 Mar-12 Mar-12 Mar-12 Feb-12 Feb-12 Feb-12 Jan-12 Jan-12 Jan-12 Jan-12 Jan-12 Jan-12 Jan-12 Jan-12 Jan-12

Glimcher Realty CYS Investments Newcastle Investment Corp (NCT) BB&T Corporation Invesco Mortgage REIT Commonwealth REIT Two Harbors Investment Corp (TWO) Georgetown Bancorp, Inc. (GTWN) Georgetown Bancorp (GTWN) Primerica, Inc. HomeTrust Bancshares, Inc. (HTBI) FS Bancorp, Inc. (FSBW) Forest City Enterprises Associated Estates Realty Corp (AEC) BGC Partners City National Bank Continential Bank Holdings Zions Bancorp NextEra Energy Capital BNC Bancorp American Financial Group Public Storage, Inc. Charles Schwab First Republic Bank Stag Industrial, Inc. (STAG) MetroCorp Bancshares, Inc. (MCBI) Newcastle Investment Corp (NCT) Protective Life Annaly Capital Management Zions Bancorp Banco Espirito Santo (BES LS) Hersha Hospitality Trust (HT) EverBank Financial Corp (EVER) Carlyle Group LP (CG) LPL Investment Holdings, Inc. (LPLA) BB&T Corporation Ares Commercial Real Estate Corp (ACRE) Caplease Inc Pacific Mercantile Bancorp (PMBC) Pennsylvania Real Estate Investment Trust Oaktree Capital Group LLC (OAK) Aspen Insurance Holdings MFA Financial Tompkins Financial Corp (TMP) Hatteras Financial Corp (HTS) China Minsheng Banking Corp Ltd (1988 HK) Glimcher Realty Trust (GRT) Qwest Corporation Banco de Sabadell SA (SAB SM) Maiden Holdings North America Nationstar Mortgage Holdings, Inc. (NSM) AIA Group Ltd. (1299 HK) Public Storage, Inc. First Republic Bank (FRC) Two Harbors Investment Corp (TWO) Alexandria Real Estate Equities UniCredit SpA (UCG IM) Realty Income Corp Ares Capital Corp Aegon N.V. BancorpSouth, Inc. (BXS) First Republic Bank Two Harbors Investment Corp (TWO) West End Indiana Bancorp, Inc. (WEIN) Public Storage, Inc.

Selling Group Selling Group Co-Manager Underwriter Co-Manager Selling Group Co-Manager Bookrunner Sole Manager Co-Manager Sole Manager Sole Manager Selling Group Co-Manager Jr. Co-Manager Co-Manager Sole Manager Selling Group Underwriter Lead Manager Co-Manager Underwriter Selling Group Underwriter Co-Manager Bookrunner Co-Manager Selling Group Underwriter Selling Group Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Underwriter Co-Manager Co-Manager Placement Agent Selling Group Co-Manager Selling Group Selling Group Joint Bookrunner Joint Bookrunner Co-Lead Manager Co-Manager Underwriter Co-Manager Co-Manager Co-Manager Co-Manager Underwriter Co-Manager Co-Manager Junior Co-Manager Co-Manager Selling Group Underwriter Underwriter Co-Manager Underwriter Co-Manager Sole Manager Underwriter

Date

Issuer

2011 Transactions KBW's Role

Dec-11 Dec-11 Nov-11 Nov-11 Nov-11 Nov-11 Nov-11 Oct-11 Oct-11 Oct-11 Oct-11

First Niagara Financial Group First Niagara Financial Group Inc (FNFG) First Midwest Bancorp Manning & Napier Inc (MN) Ocwen Financial Corp (OCN) KKR Financial Holdings Education Realty Trust (EDR) SunTrust Banks Inc American Capital Agency Corp (AGNC) STAG Industrial Inc Nara Bancorp Inc (NARA)

Underwriter Joint Bookrunner Co-Manager Co-Manager Co-Manager Underwriter Co-Manager Senior Co-Manager Co-Manager Co-Manager Joint Bookrunner

Keefe, Bruyette & Woods

$100.0 $75.0 $169.5 $1,150.0 $140.0 $175.0 $600.3 $11.0 $11.0 $375.0 $211.6 $32.4 $125.0 $91.1 $112.5 $150.0 $16.5 $158.0 $350.0 $72.5 $230.0 $287.5 $485.0 $150.0 $107.4 $46.0 $154.3 $250.0 $275.0 $143.8 $1,306.9 $134.4 $221.0 $671.0 $500.3 $575.0 $142.5 $50.0 $26.3 $100.0 $380.2 $150.0 $100.0 $40.3 $545.8 $1,442.9 $227.7 $525.0 $1,192.8 $100.0 $268.3 $6,044.1 $462.5 $379.5 $341.6 $550.0 $10,010.2 $373.8 $143.8 $525.0 $115.0 $199.5 $358.5 $13.6 $460.0

Perpetual Preferred Perpetual Preferred Common Stock - Follow On Perpetual Preferred Perpetual Preferred $25 Par Senior Notes Common Stock - Follow On Common Stock - 2nd Step Conversion Common Stock - 2nd Step Conversion Senior Notes Common Stock - Standard Conversion Common Stock - Standard Conversion $25 Par Senior Notes Common Stock - Follow On $25 Par Senior Notes Subordinated Bank Notes Private Placement-Common & Perp Pfd Senior Notes $25 Par Junior Subordinated Notes Private Placement -Mandatory Conv. Pfd $25 Par Senior Notes Perpetual Preferred Perpetual Preferred Perpetual Preferred Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On $25 Par Subordinated Notes Perpetual Preferred Perpetual Preferred Rights Offering Common Stock - Follow On Common Stock - IPO Common Stock - IPO Common Stock - Follow On Perpetual Preferred Common Stock - IPO Perpetual Preferred Common Stock PIPE Perpetual Preferred Common Stock - IPO Perpetual Preferred $25 Par Senior Notes Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On $25 Par Senior Notes Rights Offering $25 Par Senior Notes Common Stock - IPO Common Stock - Follow On Perpetual Preferred Common Stock - Follow On Common Stock - Follow On Senior Notes Rights Offering Perpetual Preferred Perpetual Preferred $25 Par Subordinated Notes Common Stock - Follow On Perpetual Preferred Common Stock - Follow On Common Stock - Standard Conversion Perpetual Preferred

($mm)

Offering Type

$350.0 $484.0 $115.0 $150.0 $373.8 $225.0 $130.1 $750.0 $1,118.6 $60.0 $63.3

Perpetual Preferred Common Stock - Follow On Senior Notes Common Stock - IPO Common Stock - Follow On $25 Par Senior Notes Common Stock - Follow On Senior Notes Common Stock - Follow On Perpetual Preferred Common Stock - Follow On

www.kbw.com

Capital Market Transactions Oct-11 Oct-11 Oct-11 Sep-11 Sep-11 Sep-11 Sep-11 Sep-11 Aug-11 Jul-11 Jul-11 Jul-11 Jul-11 Jul-11 Jul-11 Jul-11 Jul-11 Jul-11 Jun-11 Jun-11 Jun-11 Jun-11 Jun-11 Jun-11 Jun-11 May-11 May-11 May-11 May-11 May-11 May-11 May-11 May-11 May-11 Apr-11 Apr-11 Apr-11 Apr-11 Apr-11 Apr-11 Apr-11 Apr-11 Apr-11 Mar-11 Mar-11 Mar-11 Mar-11 Mar-11 Mar-11 Mar-11 Mar-11 Mar-11 Mar-11 Mar-11 Mar-11 Mar-11 Feb-11 Feb-11 Feb-11 Feb-11 Feb-11 Jan-11 Jan-11 Jan-11 Jan-11 Jan-11 Jan-11 Jan-11

Goldman Sachs Group ASB Bancorp, Inc. (ASBB) BSB Bancorp, Inc. (BLMT) F&M Bancorporation Qwest Communications Poage Bankshares Inc. (PBSK) Digital Realty Trust Associated Banc-Corp Pacific Mercantile Bancorp (PMBC) Banca Civica SA (BCIV SM) Public Storage Milano Assicurazioni SpA (MI) Fondiaria - Sai SpA (FSA) Capital One Financial Corp (COF) Forest City Enterprises (FCEA) IF Bancorp Inc. (IROQ) State Investors Bancorp, Inc. (SIBC) First Republic Bank (FRC) First Connecticut Bancorp (FBNK) Carver Bancorp, Inc (CARV) Ashford Hospitality Trust (AHT) Evercore Partners Inc (EVR) Maiden Holdings PartnerRe Ltd Equity Lifestyle Properties Inc (ELS) CommonWealth REIT Endurance Specialty Holdings Enterprise Financial Services Corp (EFSC) FNB Corp (FNB) Lexington Realty Trust (LXP) Hersha Hospitality Trust U.S. Cellular Alexandria Real Estate Equities Inc (ARE) Montpelier Re Holdings National Credit Union Administration LPL Investment Holdings Inc (LPLA) Forethought Financial Group STAG Industrial Inc (STIR) Primerica Inc (PRI) Vornado Realty Trust Jefferies Group Sunshine Financial Inc. (SSNF) Public Storage Colony Financial Inc (CLNY) TAL International Group Inc (TAL) CapLease Inc (LSE) First Defiance Financial Corp. (FDEF) Keycorp KeyCorp (KEY) Hatteras Financial Corp (HTS) Sun Bancorp, Inc. (SNBC) Willis Group Holdings PLC Financial Institutions, Inc. (FISI) Rockville Financial Inc. (RCKB) Sterling Bancorp (STL) Old Republic International (ORI) PT Bank Mandiri (BMZ IJ) Aegon NV (AGN NA) Marfin Popular Bank (CPB EU) Banco Popolare SC (BP IM) PennantPark Investment Corporation (PNNT) Piraeus Bank (TPEIR GA) BankUnited (BKU) Anchor Bancorp (ANCB) Fifth Third Bancorp (FITB) Wolverine Bancorp, Inc. (WBKC) Anchor Bancorp Inc (ANCB) Hatteras Financial Corp (HTS)

Underwriter Sole Manager Sole Manager Sole Placement Agent Underwriter Sole Manager Underwriter Co-Manager Placement Agent Co-Bookrunner Underwriter Joint Lead Manager Joint Lead Manager Co-Manager Co-Manager Sole Manager Sole Manager Co-Manager Sole Manager Financial Advisor Co-Manager Co-Manager Co-Manager Underwriter Co-Manager Underwriter Selling Group Bookrunner Joint Bookrunner Co-Manager Co-Manager Underwriter Co-Manager Underwriter Co-Manager Co-Manager Joint Bookrunner Co-Manager Co-Manager Underwriter Co-Manager Sole Manager Underwriter Co-Manager Co-Manager Co-Manager Bookrunner Co-Manager Co-Manager Joint Bookrunner Bookrunner Joint Lead Manager Bookrunner Sole Manager Co-Manager Co-Manager Sub-Underwriter Co-Manager Co-Lead Manager Co-Lead Manager Co-Manager Co-Lead Manager Co-Manager Bookrunner Co-Manager Sole Manager Bookrunner Joint Bookrunner

$575.0 $55.8 $89.9 $40.0 $575.0 $33.7 $287.5 $65.0 $11.2 $857.3 $487.5 $500.3 $642.4 $2,000.0 $350.0 $45.0 $29.1 $412.8 $171.9 $55.0 $87.5 $178.5 $107.5 $373.8 $359.2 $275.0 $230.0 $35.0 $64.6 $94.5 $115.0 $100.0 $471.9 $150.0 $965.0 $216.5 $150.0 $205.6 $273.0 $246.3 $800.0 $12.3 $375.0 $297.9 $218.0 $56.8 $21.2 $1,000.0 $625.0 $475.2 $86.2 $800.0 $46.0 $171.1 $38.6 $550.0 $1,296.4 $1,245.8 $608.1 $2,713.4 $114.1 $1,105.8 $900.5 $25.5 $1,870.0 $25.1 $25.5 $330.6

$25 Par Senior Notes Common Stock - Standard Conversion Common Stock - Standard Conversion Common Stock - Private Placement Perpetual Preferred Common Stock - Standard Conversion Perpetual Preferred Perpetual Preferred Convertible Preferred & Common Stock PIPE Common Stock - IPO Perpetual Preferred Rights Offering Rights Offering Common Stock - Follow On Convertible Senior Notes Common Stock - Standard Conversion Common Stock - Standard Conversion Common Stock - Follow On Common Stock - Standard Conversion Convertible Preferred PIPE Common Stock - Follow On Common Stock - Follow On $25 Par Senior Notes Perpetual Preferred Common Stock - Follow On Perpetual Preferred Perpetual Preferred Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Perpetual Preferred $25 Par Senior Notes Common Stock - Follow On Perpetual Preferred RMBS Common Stock - Follow On Senior Notes Common Stock - IPO Common Stock - Follow On Perpetual Preferred Senior Notes Common Stock - Standard Conversion Cumulative Preferred Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Senior Notes Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Senior Unsecured Notes Common Stock - Follow On Common Stock - 2nd Step Conversion Common Stock - Follow On Convertible Senior Notes Rights Offering Common Stock - Follow On Rights Offering Rights Offering Common Stock - Follow On Rights Offering Common Stock - IPO Common Stock - Standard Conversion Common Stock - Follow On Common Stock - Standard Conversion Common Stock - Standard Conversion Common Stock - Follow On

*KBW participation in the Banca Civica IPO was limited to the institutional portion of the offering Date

Issuer

2010 Transactions KBW's Role

Dec-10 Dec-10 Dec-10 Dec-10 Dec-10 Dec-10 Dec-10

Capitol Federal Financial (CFFN) Two Harbors Investment Corp Capitol Federal Financial Inc (CFFN) Fortegra Financial Corp (FRF) Tower Bancorp Inc (TOBC) Prospect Capital Corp Walker & Dunlop Inc (WD)

Co-Manager Co-Manager Co-Manager Co-Manager Bookrunner Co-Manager Joint Bookrunner

Keefe, Bruyette & Woods

($mm)

Offering Type

$1,181.5 $134.4 $1,181.5 $66.0 $51.2 $172.5 $102.2

Common Stock - 2nd Step Conversion Common Stock - Follow On Common Stock - 2nd Step Conversion Common Stock - IPO Common Stock - Follow On Convertible Senior Unsecured Common Stock - IPO

www.kbw.com

Capital Market Transactions Dec-10 Dec-10 Dec-10 Dec-10 Dec-10 Nov-10 Nov-10 Nov-10 Nov-10 Nov-10 Nov-10 Nov-10 Nov-10 Nov-10 Nov-10 Oct-10 Oct-10 Oct-10 Oct-10 Oct-10 Oct-10 Oct-10 Oct-10 Oct-10 Sep-10 Sep-10 Sep-10 Sep-10 Sep-10 Sep-10 Aug-10 Aug-10 Aug-10 Aug-10 Aug-10 Jul-10 Jul-10 Jul-10 Jul-10 Jul-10 Jul-10 Jul-10 Jul-10 Jun-10 Jun-10 Jun-10 Jun-10 Jun-10 Jun-10 Jun-10 Jun-10 Jun-10 May-10 May-10 May-10 May-10 May-10 May-10 Apr-10 Apr-10 Apr-10 Apr-10 Apr-10 Apr-10 Apr-10 Apr-10 Apr-10 Apr-10 Apr-10 Mar-10 Mar-10 Mar-10 Mar-10 Mar-10 Mar-10 Mar-10 Mar-10 Mar-10 Mar-10 Mar-10

Gjensidige Forsikring ASA (GJF OS) CAI International Inc. (CAP) Starwood Property Trust (STWD) Heritage Financial Corp (HFWA) First Republic Bank (FRC) Banco Bilbao Vizcaya Argenta (BBVA.SM) Heritage Financial (HBOS) Heritage Financial Group (HBOS) Kaiser Federal Financial Group (KFFG) LPL Investment Holdings, Inc. (LPLA) Cascade Bancorp Inc. (CACB) Kaiser Federal Financial Group, Inc. (KFFG) First Potomac Realty Trust (FPO) BlackRock, Inc. (BLK) Radian Group Inc. (RDN) Goldman Sachs Group Inc. AIA Group Ltd. (1299 HK) Bank of Cyprus Public Co LTD (BOC GA) Hersha Hospitality Trust (HT) National Bank of Greece (ETE GA) Sierra Bancorp (BSRR) Ares Capital Corp. Mutual of Omaha Insurance Company Invesco Mortgage Capital Inc (IVR) Citigroup Capital XIII Associated Estates Realty Corp (AEC) Verisk Analytics Inc (VRSK) Hatteras Financial Corp (HTS) Evercore Partners Inc (EVR) SVB Financial Group Western Alliance Bancorp Western Alliance Bancorp (WAL) Park Sterling Bank (PSTB) KeyCorp United-American SB (UASB) CenterState Banks, Inc. (CSFL) The First of Long Island Corporation (FLIC) Morgan Stanley Renasant Corp (RNST) Jacksonville Bancorp (JXSB) Sun Bancorp Inc (SNBC) Agricultural Bank of China (1288 HK)* Morgan Stanley Felcor Lodging Trust. Inc. (FCH) Boston Private Financial Holdings, Inc. (BPFH) Chicago Board of Options Exchange (CBOE) Lloyds Banking Group Jefferies Group Morgan Stanley HSBC Holdings PLC Zions Bancorp Morgan Stanley Taylor Capital Group (TAYC) Bryn Mawr Bank (BMTC) SBM Financial, Inc American Capital Agency Corp (AGNC) Associated Estates Realty Corp (AEC) Radian Group Inc. (RDN) Oriental Financial Group Inc (OFG) Columbia Banking System Inc. (COLB) Apollo Investment Corp (AINV) Invesco Mortgage Capital Inc. (IVR) THL Credit Inc (TCRD) MGIC Investment Corp (MTG) MGIC Investment Corp (MTG) Morgan Stanley Ameris Bancorp (ABCB) Popular Inc (BPOP) Harvard Illinois Bancorp, Inc. (HARI) Primerica Inc (PRI) Flagstar Bancorp Inc (FBC) JPM Chase Capital XXIX First Interstate BancSystem Inc (FIBK) Hersha Hospitality Trust (HT) First California Financial Group Inc (FCAL) Citizens South Banking Corp (CSBC) Hartford Financial Services Group Inc (HIG) Hartford Financial Services Group Inc (HIG) Glacier Bancorp Inc (GBCI) Oriental Financial Group Inc (OFG)

Keefe, Bruyette & Woods

Co-Lead Manager Joint Bookrunner Co-Manager Bookrunner Co-Manager Sub-Underwriter Bookrunner Bookrunner Bookrunner Co-Manager Lead Placement Agent Bookrunner Co-Manager Co-Manager Co-Manager Selling Group Co-Manager Joint Bookrunner Co-Manager Sub-Underwriter Sole Placement Agent Underwriter Co-Manager Co-Manager Underwriter Co-Manager Co-Manager Joint Bookrunner Co-Manager Co-Manager Joint Bookrunner Bookrunner Bookrunner Co-Manager Sole Manager Bookrunner Bookrunner Co-Manager Sole Placement Agent Sole Manager Joint Placement Agent Underwriter Co-Manager Co-Manager Co-Manager Co-Manager Underwriter Co-Manager Co-Manager Selling Group Selling Group Co-Manager Financial Advisor Co-Placement Agent Sole Placement Agent Co-Manager Co-Manager Joint Bookrunner Sole Placement Agent Bookrunner Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Bookrunner Co-Manager Sole Manager Co-Manager Co-Manager Underwriter Co-Manager Co-Manager Sole Manager Sole Placement Agent Underwriter Underwriter Co-Manager Bookrunner

$1,703.9 $50.5 $453.8 $57.6 $322.6 $6,699.1 $65.9 $65.9 $63.8 $516.7 $176.8 $63.8 $178.3 $9,174.2 $450.0 $1,325.0 $20,526.2 $42.1 $166.8 $2,534.9 $23.3 $200.0 $300.0 $286.4 $2,246.0 $125.1 $596.4 $214.9 $83.5 $350.0 $75.0 $50.3 $150.2 $750.0 $3.0 $35.2 $34.5 $700.0 $55.0 $10.4 $106.7 $22,117.4 $500.0 $173.9 $28.8 $390.2 $862.5 $400.0 $125.0 $3,400.0 $125.0 $625.0 $75.0 $26.3 $60.0 $154.5 $119.6 $550.0 $200.0 $240.1 $213.9 $189.0 $203.4 $805.0 $345.0 $52.0 $90.0 $1,150.0 $7.8 $368.5 $287.5 $1,500.0 $166.8 $117.3 $41.4 $15.0 $1,653.6 $575.0 $151.8 $99.6

Common Stock - IPO Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - IPO Rights Offering Common Stock - 2nd Step Conversion Common Stock - 2nd Step Conversion Common Stock - 2nd Step Conversion Common Stock - IPO Common Stock PIPE Common Stock - 2nd Step Conversion Common Stock - Follow On Common Stock - Follow On Convertible Senior Notes $25 Par Senior Notes Common Stock - IPO Rights Offering - Rump Placement Common Stock - Follow On Rights Offering Common Stock - Registered Direct $25 Par Senior Notes Surplus Notes Common Stock - Follow On Trust Preferred Securities Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Senior Notes Senior Notes Common Stock - Follow On Common Stock - Follow On Senior Notes Common Stock - Standard Conversion Common Stock - Follow On Common Stock - Follow On IR Structured Notes Common Stock PIPE Common Stock - 2nd Step Conversion Common Stock / Mand Conv Preferred - PIPE Common Stock - IPO IR Structured Notes Common Stock - Follow On Common Stock - Follow On Common Stock - IPO Retail Senior Notes Senior Notes IR Structured Notes - Re-Opening Non-Cumulative Preferred Non-Cumulative Preferred IR Structured Notes Private Placement Common Stock - Registered Direct Common Stock - Private Placement Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Mandatory Convertible Preferred - PIPE Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - IPO Common Stock - Follow On Convertible Senior Notes Structured Hybrid Notes Common Stock - Follow On Depositary Share - Follow On Common Stock - Standard Conversion Common Stock - IPO Common Stock - Follow On Trust Preferred Securities Common Stock - IPO Common Stock - Follow On Common Stock - Follow On Common Stock / Mand Conv Preferred - PIPE Common Stock - Follow On Mandatory Convertible Preferred Stock Common Stock - Follow On Common Stock - Follow On

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Capital Market Transactions Mar-10 Mar-10 Mar-10 Mar-10 Mar-10 Mar-10 Feb-10 Feb-10 Jan-10 Jan-10 Jan-10 Jan-10 Jan-10 Jan-10 Jan-10 Jan-10 Jan-10 Jan-10 Jan-10

Sterling Bancorp (STL) Citigroup Capital XII Susquehanna Bancshares Inc (SUSQ) Susquehanna Capital II IBERIABANK Corp (IBKC) PennantPark Investment Corp (PNNT) Wilmington Trust Corp (WL) PNC Financial Services Group (PNC) First Southern Bancorp (FSOF) OBA Financial Services Inc. (OBAF) Symetra Financial Corp (SYA) OmniAmerican Bancorp, Inc. (OABC) Hersha Hospitality Trust (HT) First Midwest Bancorp Inc (FMBI) Associated Estates Realty Corp (AEC) Associated Banc-Corp (ASBC) Versailles Financial Corporation (VERF) Invesco Mortgage Capital Inc. (IVR) Athens Bancshares Corp. (AFCB)

Co-Manager Underwriter Joint Bookrunner Joint Bookrunner Joint Bookrunner Co-Manager Joint Bookrunner Co-Manager Sole Placement Agent Sole Manager Co-Manager Sole Manager Co-Manager Joint Bookrunner Co-Manager Co-Manager Sole Manager Co-Manager Sole Manager

$69.0 $2,300.0 $345.0 $50.0 $345.0 $57.5 $287.6 $3,450.0 $200.0 $46.3 $419.5 $119.0 $155.3 $207.0 $57.4 $500.0 $4.3 $171.1 $26.8

Common Common

Common Common

Common Stock - Follow On Trust Preferred Securities Common Stock - Follow On Trust Preferred Securities Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Private Placement Stock - Standard Conversion Common Stock - IPO Stock - Standard Conversion Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Stock - Standard Conversion Common Stock - Follow On Stock - Standard Conversion

*KBW participation in the Agricultural Bank of China IPO was limited to the H-Tranche Date

Issuer

2009 Transactions KBW's Role

Dec-09 Dec-09 Dec-09 Dec-09 Dec-09 Dec-09 Dec-09 Dec-09 Dec-09 Nov-09 Nov-09 Nov-09 Nov-09 Nov-09 Oct-09 Oct-09 Oct-09 Oct-09 Oct-09 Oct-09 Oct-09 Oct-09 Oct-09 Oct-09 Oct-09 Oct-09 Oct-09 Sep-09 Sep-09 Sep-09 Sep-09 Sep-09 Sep-09 Sep-09 Sep-09 Sep-09 Sep-09 Sep-09 Sep-09 Sep-09 Sep-09 Sep-09 Sep-09 Sep-09 Sep-09 Aug-09 Aug-09 Aug-09 Aug-09 Aug-09 Aug-09 Aug-09 Jul-09 Jul-09 Jul-09 Jul-09

DnB Nor (DNBNOR NO) ING Groep N.V. (INGA EU) Citigroup (C) Cowen Group Inc (COWN) JPM Chase Capital XXVIII Apollo Investment Corp (AINV) Bank of America Corp (BAC) Genworth Financial Inc. Trustmark Corp (TRMK) SVB Financial Group (SIVB) Lakeland Financial Corp (LKFN) Alpha Bank A.E. (ALPHA GA) Capital One Capital VI Reinsurance Group of America OceanFirst Financial Corp (OCFC) Carver Federal Savings Bank PrivateBancorp Inc (PVTB) American Capital Agency Corp (AGNC) Jefferies Group Inc (JEF) Nara Bancorp Inc (NARA) Whitney Holding Corp (WTNY) BB&T Capital Trust VII Hancock Holding Company (HBHC) Walter Investment Management Corp (WAC) Swedbank AB (SWEDA SS) Cullman Bancorp Inc. (CULL) Verisk Analytics Inc (VRSK) Colonial Properties Trust (CLP) Citizens Republic Bancorp First Niagara Financial Group Inc (FNFG) PennantPark Investment Corp (PNNT) First Midwest Bancorp Artio Global Investors Inc (ART) Colony Financial Inc (CLNY) First Financial Holdings Inc (FFCH) Old National Bancorp (ONB) Jefferies Group National Life Insurance Company CreXus Investment Corp (CXS) Flushing Financial Corp (FFIC) Heritage Financial Corp (HFWA) Raymond James Financial Union Bankshares Corp (UBSH) National Penn Bancshares Inc (NPBC) Stifel Financial Corp (SF) Tower Bancorp Inc (TOBC) AEGON NV (AGN NA) Umpqua Holdings Corp (UMPQ) Apollo Investment Corp (AINV) Ocwen Financial Corp (OCN) Univest Corp of Pennsylvania (UVSP) Columbia Banking System Inc (COLB) Greenhill & Co (GHL) CenterState Banks Inc (CSFL) MFA Financial Inc (MFA) Broadpoint Gleacher Securities Group Inc (BPSG)

Sub Underwriter Sub Underwriter Underwriter Co-Manager Underwriter Co-Manager Underwriter Joint Bookrunner Co-Manager Co-Manager Co-Manager Sub Underwriter Co-Manager Co-Manager Co-Manager Sole Manager Co-Manager Co-Manager Co-Manager Bookrunner Co-Manager Underwriter Joint Bookrunner Co-Manager Co-Manager Sole Manager Co-Manager Co-Manager Dealer Manager Joint Bookrunner Co-Manager Financial Advisor Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Bookrunner Bookrunner Co-Manager Bookrunner Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Bookrunner Bookrunner Co-Manager Bookrunner Co-Manager Co-Manager

Keefe, Bruyette & Woods

($mm)

Offering Type

$1,489.9 $10,704.2 $17,582.6 $87.9 $1,500.0 $112.9 $19,290.0 $300.0 $115.0 $306.7 $61.6 $1,478.3 $1,000.0 $400.0 $57.5 $14.1 $188.9 $133.0 $345.0 $86.3 $230.0 $325.0 $175.5 $81.9 $2,180.0 $10.8 $2,155.9 $115.0 $275.0 $460.1 $37.9 $225.0 $718.7 $287.5 $74.8 $207.0 $300.0 $200.0 $200.0 $107.3 $49.9 $300.0 $62.6 $161.2 $96.6 $57.3 $1,429.2 $258.7 $181.1 $289.8 $59.4 $119.7 $228.0 $86.3 $405.4 $168.9

Rights Offering Rights Offering Common Stock - Follow On Common Stock - Follow On Trust Preferred Securities Common Stock - Follow On Common Stock - Follow On Senior Notes Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Rights Offering Trust Preferred Securities Senior Notes Common Stock - Follow On FDIC TLGP Notes Common Stock - Follow On Common Stock - Follow On Convertible Senior Debentures Common Stock - Follow On Common Stock - Follow On Enhanced Trust Preferred Common Stock - Follow On Common Stock - Follow On Common Stock - Rights Offering Common Stock - MHC Conversion Common Stock - IPO Common Stock - Follow On Debt-for-Equity Exchange Common Stock - Follow On Common Stock - Follow On Debt-for-Equity Exchange Common Stock - IPO Common Stock - IPO Common Stock - Follow On Common Stock - Follow On Senior Note Re-Opening Surplus Notes Common Stock - IPO Common Stock - Follow On Common Stock - Follow On Senior Notes Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Secondary Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On

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Capital Market Transactions Jul-09 Jul-09 Jul-09 Jul-09 Jul-09 Jul-09 Jun-09 Jun-09 Jun-09 Jun-09 Jun-09 Jun-09 Jun-09 Jun-09 Jun-09 May-09 May-09 May-09 May-09 May-09 May-09 May-09 May-09 May-09 May-09 May-09 May-09 May-09 May-09 Apr-09 Apr-09 Apr-09 Apr-09 Apr-09 Mar-09 Mar-09 Mar-09 Mar-09 Jan-09 Jan-09

Education Realty Trust (EDR) CVB Financial Corp (CVBF) BB&T Capital Trust VI CoBiz Financial Inc. (COBZ) Territorial Bancorp, Inc. (TBNK) Discover Financial Services (DFS) IBERIABANK Corporation (IBKC) Invesco Mortgage Capital Inc. (IVR) Jefferies Group Equity Lifestyle Properties Inc. (ELS) Assured Guaranty Ltd (AGO) Capital One Bank Marshall & Ilsley (MI) F.N.B. Corporation (FNB) First Financial Bancorp (FFBC) Morgan Stanley Morgan Stanley Chimera Investment Corp (CIM) Redwood Trust Inc (RWT) MSCI, Inc. (MXB) Capital One Financial Forest City Enterprises (FCE.A) Western Alliance Bancorp (WAL) Duff & Phelps Corp (DUF) PrivateBancorp Inc. (PVTB) Berkshire Hills Bancorp (BHLB) SCBT Financial Corp US Bancorp (USB) HCP Inc. (HCP) Old Republic International Corp (ORI) Chimera Investment Corp (CIM) Fidelity National Financial Inc (FNF) First Niagara Financial Group Inc (FNFG) Banco Espirito Santo (BES PL) Bank of New York Mellon NBT Bancorp Inc (NBTB) Skandinaviska Enskilda Banken (SEBA SS) Alexandria Real Estate Equities Inc (ARE) Redwood Trust Inc (RWT) Medical Properties Trust Inc (MPW)

Co-Manager Joint Bookrunner Underwriter Bookrunner Sole Manager Co-Manager Joint Bookrunner Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Bookrunner Joint Bookrunner Co-Manager Co-Manager Co-Manager Lead Manager Co-Manager Co-Manager Co-Manager Bookrunner Co-Manager Co-Manager Co-Manager Bookrunner Co-Manager Underwriter Co-Manager Co-Manager Co-Manager Joint Bookrunner Co-Manager Co-Manager Sole Manager Sub Underwriter Co-Manager Lead Manager Co-Manager

Date

Issuer

2008 Transactions KBW's Role

Dec-08 Dec-08 Dec-08 Dec-08 Dec-08 Dec-08 Dec-08 Nov-08 Nov-08 Nov-08 Oct-08 Oct-08 Oct-08 Oct-08 Oct-08 Oct-08 Sep-08 Sep-08 Sep-08 Sep-08 Sep-08 Sep-08 Aug-08 Aug-08 Jul-08 Jul-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 Jun-08 May-08 May-08

CIT Group, Inc. (CIT) Morgan Stanley Morgan Stanley KeyCorp Key Bank Hatteras Financial Corp (HTS) Bank of America Goldman Sachs Glacier Bancorp, Inc. (GBCI) Greenhill & Co (GHL) First Commonwealth Financial Corp (FCF) Chimera Investment Corp (CIM) Emclaire Financial Corp. (EMCF) Berkshire Hills Bancorp (BHLB) First Savings Financial Group, Inc. (FSFG) Washington Trust Bancorp (WASH) First Niagara Financial Group Inc. (FNFG) Natixis (KN) First Potomac Realty Trust (FPO) Stifel Financial Corp (SF) Taylor Capital Group, Inc. (TAYC) Cole Taylor Bank Auburn Bancorp, Inc. (ABBB) HCP Inc. Boston Private Financial Holdings, Inc. (BPFH) MSCI Inc (MXB) Capitol Trust XII Lexington Realty Trust (LXP) Guaranty Bank & Guaranty Financial Group Inc. (GFG) BGC Partners, Inc. (BGCP) Citizens Republic Bancorp Inc. (CRBC) Citizens Republic Bancorp Inc. (CRBC) PrivateBancorp, Inc. (PVTB) Senior Housing Properties Trust (SNH) Private Bancorp Apollo Investment Corp (AINV)

Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Joint Bookrunner Co-Manager Co-Manager Co-Manager Co-Manager Bookrunner Co-Manager Sole Manager Co-Manager Sole Manager Sole Placement Agent Bookrunner Underwriter Co-Manager Joint Book Manager Capital Advisor Capital Advisor Sole Manager Co-Manager Bookrunner Co-Manager Co-Manager Co-Manager Sole Placement Agent Co-Manager Co-Manager Co-Manager Bookrunner Co-Manager Co-Manager Co-Manager

Keefe, Bruyette & Woods

$122.6 $132.5 $500.0 $59.4 $122.3 $555.5 $172.7 $176.2 $400.0 $153.4 $487.0 $1,500.0 $575.0 $132.8 $103.5 $1,000.0 $500.0 $622.1 $250.0 $595.7 $1,000.0 $345.3 $200.6 $118.7 $228.4 $34.6 $31.2 $2,755.5 $439.9 $316.3 $810.8 $345.2 $380.4 $881.8 $603.4 $34.7 $1,689.5 $267.8 $297.6 $72.0

Common Stock - Follow On Common Stock - Follow On Enhanced Trust Preferred Common Stock - Follow On Common Stock - Standard Conversion Common Stock - Follow On Common Stock - Follow On Common Stock - IPO Senior Notes Common Stock - Follow On Common Stock - Follow On Subordinated Notes Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Senior Note Re-Opening Senior Note Re-Opening Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Senior Notes Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Convertible Senior Notes Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Rights Offering FDIC TLGP Notes (Floating) Common Stock - Follow On Common Stock - Rights Offering Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On

($mm)

Offering Type

$345.0 $500.0 $2,000.0 $250.0 $1,000.0 $207.0 $8,250.0 $5,500.0 $98.0 $225.4 $115.0 $284.6 $3.5 $41.4 $24.3 $50.0 $115.0 $5,212.1 $46.0 $88.0 $60.0 $60.0 $2.3 $500.8 $110.4 $810.6 $33.5 $48.3 $275.0 $160.0 $79.6 $120.4 $155.3 $412.3 $125.0 $382.0

Common Stock - Follow On FDIC TLGP Notes (Floating) FDIC TLGP Notes (Fixed) FDIC TLGP Notes (Floating) FDIC TLGP Notes (Fixed) Common Stock - Follow On FDIC TLGP Notes (Fixed) FDIC TLGP Notes (Fixed) Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Common Stock - Merger Conversion Common Stock - Follow On Common Stock - Standard Conversion Common Stock PIPE Common Stock - Follow On Rights Offering Common Stock - Follow On Common Stock - Follow On Convertible Preferred Stock Subordinated Debt Common Stock - MHC Conversion Common Stock - Follow On Common Stock - Follow On Common Stock - Secondary Trust Preferred Securities Common Stock - Follow On Units of Sub. Debt & Convertible Preferred Stock Common Stock - Follow On Common Stock - Follow On Convertible Preferred Stock Common Stock - Follow On Common Stock - Follow On Enhanced Trust Preferred Common Stock - Follow On

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Capital Market Transactions May-08 May-08 Apr-08 Apr-08 Apr-08 Apr-08 Mar-08 Mar-08 Mar-08 Mar-08 Mar-08 Mar-08 Mar-08 Feb-08 Feb-08 Feb-08 Jan-08 Jan-08 Jan-08 Jan-08 Jan-08 Jan-08 Jan-08

American International Group Inc (AIG) American International Group Inc (AIG) MSCI Inc (MXB) Hatteras Financial Corp (HTS) William Penn Bancorp, Inc. (WMPN) Barclays PLC Credit Suisse MGIC Investment Corp (MTG) MGIC Investment Corp (MTG) Visa Inc (V) Stifel Financial Corp (SF) Ambac Financial Group Inc (ABK) Ambac Financial Group Inc (ABK) Colonial BancGroup, Inc. SunTrust Keycorp Capital X Hatteras Financial Corp Capstead Mortgage Corp (CMO) M&T Bank Annaly Capital Management (NLY) Meridian Interstate Bancorp, Inc. (EBSB) Meridian Interstate Bancorp (EBSB) Sound Financial Inc. (SNFL)

Co-Manager Co-Manager Co-Manager Joint Book Manager Sole Manager Underwriter Underwriter Co-Manager Co-Manager Underwriter Joint Book Manager Co-Manager Co-Manager Underwriter Underwriter Underwriter Sole Manager Co-Manager Co-Manager Co-Manager Bookrunner Sole Manager Sole Manager

Date

Issuer

2007 Transactions KBW's Role

Dec-07 Dec-07 Dec-07 Dec-07 Dec-07 Dec-07 Dec-07 Dec-07 Nov-07 Nov-07 Nov-07 Nov-07 Nov-07 Nov-07 Nov-07 Nov-07 Oct-07 Oct-07 Oct-07 Oct-07 Oct-07 Oct-07 Oct-07 Sep-07 Sep-07 Sep-07 Sep-07 Sep-07 Aug-07 Jul-07 Jul-07 Jul-07 Jul-07 Jul-07 Jul-07 Jul-07 Jul-07 Jun-07 Jun-07 Jun-07 Jun-07 Jun-07 Jun-07 Jun-07 Jun-07 May-07 May-07 May-07 May-07 May-07 May-07 May-07 May-07

Home Federal Bank (HOME) Assured Guaranty Ltd. (AGO) Washington Mutual, Inc. Home Federal Bancorp (HOME) Washington Mutual (WM) Fannie Mae Susquehanna Bancshares, Inc. United Financial Bancorp, Inc. (UBNK) First Advantage Bancorp (FABK) Freddie Mac United Financial Bancorp (UBNK) Republic Federal Bank Capstead Mortgage Corp (CMO) Chimera Investment Corporation (CIM) MSCI Inc (MXB) Och-Ziff Capital Management Group (OZM) Hatteras Financial Corp Washington Mutual, Inc. Pzena Investment Management Inc (PZN) La Porte Bancorp, Inc. (LPSB) Annaly Capital Management (NLY) First Fin. Northwest, Inc. (FFNW) Beacon Federal Bancorp, Inc. (BFED) Duff & Phelps Corp (DUF) Capstead Mortgage Corp (CMO) Fortis (FORA NA) Apollo Investment Corp (AINV) Compass Bank SPARTA Insurance Holdings, Inc. GlobeOp Financial Services SA (GO LN) Validus Holdings Ltd. (VR) Fifth Third Bank MF Global Ltd (MF) Encore Bancshares (EBTX) Annaly Capital Management (NLY) Marfin Investment Group Holdings SA (MIG GA) First National Bancshares, Inc. (FNSCP) Abington Bancorp, Inc. (ABBC) Abington Bancorp Inc (ABBC) First Mercury Financial Corp (FMR) RAM Holdings Ltd (RAMR) Webster Bank Security Capital Assurance Ltd (SCA) Jefferies Group, Inc. Jefferies Group, Inc. Capital Lease Funding Inc (LSE) Washington Mutual JP Morgan Delphi Financial Group Colonial Bank Silicon Valley Bank Silicon Valley Bank Bank of Oklahoma

Bookrunner Co-Manager Co-Manager Sole Manager Co-Manager Selling Group Co-Manager Bookrunner Sole Manager Selling Group Lead Manager Lead Manager Joint Book Manager Co-Manager Underwriter Co-Manager Sole Manager Co-Manager Co-Manager Sole Manager Co-Manager Sole Manager Sole Manager Co-Manager Joint Book Manager Co-Lead Manager Co-Manager Co-Manager Lead Manager Co-Lead Manager Co-Manager Co-Manager Co-Manager Lead Manager Co-Manager Co-Lead Manager Lead Manager Bookrunner Lead Manager Joint Book Manager Lead Manager Joint Lead Manager Underwriter Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager

Keefe, Bruyette & Woods

$7,475.0 $5,880.0 $895.0 $276.0 $10.3 $4,000.0 $1,525.0 $483.0 $390.0 $19,650.4 $87.4 $1,155.0 $250.0 $250.0 $685.0 $740.0 $165.6 $133.3 $350.0 $1,129.0 $100.5 $100.5 $13.0

Common Stock - Follow On Convertible Equity Units Common Stock - Secondary Common Stock - IPO Common Stock - MHC Conversion Non-Cumulative Preferred Non-Cumulative Preferred Common Stock - Follow On Convertible Junior Subordinated Debentures Common Stock - IPO Common Stock - Secondary Common Stock - Follow On Mandatory Convertible Equity Units Subordinated Debt Enhanced Trust Preferred Enhanced Trust Preferred Common Stock - 144A Common Stock - Follow On Enhanced Trust Preferred Common Stock - Follow On Common Stock - MHC Conversion Common Stock - IPO Common Stock - MHC Conversion

($mm)

Offering Type

$102.0 $318.3 $3,000.0 $102.0 $3,000.0 $7,000.0 $125.0 $95.6 $52.6 $6,000.0 $95.7 $8.3 $98.7 $511.3 $289.8 $1,152.0 $164.1 $500.0 $109.8 $13.0 $1,076.6 $211.6 $74.0 $152.7 $112.1 $18,869.6 $299.0 $350.0 $279.1 $100.4 $345.4 $575.0 $2,921.4 $47.6 $756.7 $7,066.3 $18.0 $139.7 $139.7 $73.1 $82.9 $200.0 $329.5 $250.0 $350.0 $111.3 $500.0 $750.0 $175.0 $300.0 $250.0 $250.0 $250.0

Common Stock - 2nd Step Conversion Common Stock - Follow On Convertible Non-Cum Preferred Common Stock - IPO Convertible Preferred Stock Non-Cumulative Preferred Enhanced Trust Preferred Common Stock - 2nd Step Conversion Common Stock - Standard Conversion Non-Cumulative Preferred Common Stock - IPO Unit Offering - Private Common Stock - Follow On Common Stock - IPO Common Stock - IPO Common Stock - IPO Common Stock - 144A Subordinated Notes Common Stock - IPO Common Stock - MHC Conversion Common Stock - Follow On Common Stock - Standard Conversion Common Stock - Standard Conversion Common Stock - IPO Common Stock - Follow On Rights Offering Common Stock -Follow On Subordinated Notes Common Stock - Private Common Stock - IPO Common Stock - IPO Enhanced Trust Preferred Common Stock - IPO Common Stock - IPO Common Stock -Follow On Rights Offering Convertible Preferred Stock Common Stock - 2nd Step Conversion Common Stock - IPO Common Stock - Follow On Common Stock - Secondary Trust Preferred Securities Common Stock - Secondary Senior Notes Senior Notes Common Stock - Follow On Hybrid Capital Securities Hybrid Capital Securities Hybrid Capital Securities REIT Preferred Securities Senior Notes Subordinated Debt Subordinated Debt

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Capital Market Transactions May-07 May-07 Apr-07 Apr-07 Apr-07 Apr-07 Mar-07 Mar-07 Mar-07 Mar-07 Mar-07 Mar-07 Mar-07 Feb-07 Feb-07 Feb-07 Jan-07 Jan-07 Jan-07 Jan-07 Jan-07 Jan-07 Jan-07 Jan-07 Jan-07

JMP Group Inc (JMP) Renasant Corp (RNST) Fulton Financial Corporation PennantPark Investment Corp (PNNT) People's United Financial Inc (PBCT) Sugar Creek Financial Corp. (SUGR) Flagstone Reinsurance Holdings Ltd (FSR) Security Capital Assurance CastlePoint Holdings Ltd. (CPHL) NYMEX Holdings Inc (NMX) Whitney National Bank Annaly Capital Management (NLY) FBL Financial Group, Inc. Avenue Financial Holdings Cullen/Frost Bankers, Inc. Chittenden Corporation Employers Holdings Inc (EIG) Tower Group Inc (TWGP) CoBiz Inc (COBZ) Osage Bancshares, Inc. (OSBK) Hampden Bancorp, Inc. (HBNK) Apollo Investment Corp (AINV) Osage Bancshares, Inc (OSBK) MSB Financial Corp. (MSBF) Westfield Financial, Inc. (WFD)

Joint Book Manager Lead Manager Lead Manager Co-Manager Lead Manager Sole Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Sole Manager Co-Manager Co-Manager Co-Manager Co-Manager Lead Manager Bookrunner Sole Manager Co-Manager Sole Manager Sole Manager Bookrunner

Date

Issuer

2006 Transactions KBW's Role

Dec-06 Dec-06 Dec-06 Dec-06 Dec-06 Dec-06 Dec-06 Dec-06 Dec-06 Dec-06 Dec-06 Nov-06 Nov-06 Nov-06 Nov-06 Nov-06 Nov-06 Nov-06 Oct-06 Oct-06 Oct-06 Oct-06 Oct-06 Oct-06 Sep-06 Sep-06 Sep-06 Sep-06 Sep-06 Aug-06 Aug-06 Aug-06 Aug-06 Aug-06 Aug-06 Aug-06 Jul-06 Jul-06 Jul-06 Jul-06 Jul-06 Jul-06 Jul-06 Jul-06 Jul-06 Jul-06 Jun-06 Jun-06 Jun-06 Jun-06 Jun-06

Westfield Financial, Inc. (WFD) Egnatia Bank SA (EGNAK GA) Marfin Popular Bank Public Co (CPB CY) NewStar Financial Inc (NEWS) First State Bancorp (FSNM) Natixis (KN FP) Eastern Virginia Bankshares Inc (EVBS) Washington Mutual, Inc. Washington Mutual, Inc. Odyssey Re Holdings Corp (ORH) Zions Bancorporation Fremont General Corporation ACA Capital Holdings Inc (ACA) OneBeacon Insurance Group LLC (OB) KBW Inc (KBW) HampshireFirst Bank (HFBN) Washington Mutual Bank, FA Citizens Community Bancorp (CZWI) National City Corporation Fremont General Corporation Ben Franklin Financial (BFFI) First Mercury Financial Corp (FMR) ViewPoint Financial Group (VPFG) Hallmark Financial Services Inc (HALL) Omni Financial Services Inc (OFSI) Citizens Banking Group Porter Bancorp, Inc (PBIB) Selective Insurance Group RAC, Inc Wisconsin Fremont General Corporation Florida Capital Group, Inc. Annaly Capital Management Inc (NLY) JP Morgan Chase & Co. Evercore Partners Inc (EVR) IPC Holdings Ltd (IPCR) Security Capital Assurance Ltd (SCA) Access National Corp (ANCX) Fremont General Corporation Mercantile-Safe Deposit & Trust Company Cowen Group Inc (COWN) Mercantile-Safe Deposit & Trust Company Allied World Assurance Holdings Ltd (AWH) Seneca-Cayuga Bancorp, Inc. (SCAY) First Clover Leaf Financial Corp. (FCLF) Mercantile-Safe Deposit & Trust Company Pacific Capital Bancorp Eastern Insurance Holdings (EIHI) American Safety Insurance (ASI) Washington Mutual, Inc. Washington Mutual, Inc. Mercantile-Safe Deposit & Trust Company

Sole Manager Joint Lead Manager Joint Lead Manager Co-Manager Lead Manager Co-Lead Manager Sole Manager Sole Agent Co Lead Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Joint Book Manager Sole Manager Co-Manager Sole Manager Co-Manager Co-Manager Sole Manager Joint Book Manager Sole Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Sole Manager Co-Manager Lead Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Lead Manager Co-Manager Sole Agent Co-Manager Sole Agent Underwriter Sole Manager Sole Manager Sole Agent Sole Agent Lead Manager Lead Manager Co-Manager Co-Manager Sole Agent

Keefe, Bruyette & Woods

$101.2 $62.1 $100.0 $309.4 $3,444.5 $4.1 $185.6 $250.0 $127.8 $955.5 $150.0 $776.3 $100.0 $75.0 $100.0 $125.0 $523.0 $95.1 $71.1 $25.1 $75.7 $464.5 $25.1 $25.3 $184.0

Common Stock - IPO Common Stock - Follow On Subordinated Notes Common Stock - IPO Common Stock - IPO Common Stock - MHC Conversion Common Stock - IPO Hybrid Capital Securities Common Stock - IPO Common Stock - Secondary Subordinated Notes Common Stock - Follow On Senior Notes Common Stock - Private Subordinated Notes Subordinated Notes Common Stock - IPO Common Stock - Follow On Common Stock - Follow On Common Stock - 2nd Step Conversion Common Stock - Standard Conversion Common Stock - Follow On Common Stock - IPO Common Stock - MHC Conversion Common Stock - 2nd Step Conversion

($mm)

Offering Type

$184.0 $149.7 $547.9 $234.6 $79.1 $7,341.8 $25.3 $50.0 $500.0 $351.7 $240.0 $1,269.0 $89.7 $690.0 $164.2 $28.2 $500.0 $52.9 $750.0 $1,553.0 $8.9 $189.7 $116.0 $27.0 $36.6 $150.0 $37.2 $100.0 $29.2 $1,741.0 $47.9 $502.1 $750.0 $95.4 $415.7 $480.5 $23.0 $944.5 $65.0 $184.3 $50.0 $344.1 $10.7 $41.7 $50.0 $38.0 $74.8 $57.0 $750.0 $250.0 $50.0

Common Stock - IPO Common Stock - Follow On Common Stock - Follow On Common Stock - IPO Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Certificates of Deposit REIT Preferred Securities Common Stock - Follow On Perpetual Preferred Stock Asset-Backed Securities Common Stock - IPO Common Stock - IPO Common Stock - IPO Common Stock - IPO Senior Notes Common Stock - 2nd Step Conversion Hybrid Capital Securities Asset-Backed Securities Common Stock - MHC Conversion Common Stock - IPO Common Stock - MHC Conversion Common Stock - Follow On Common Stock - IPO Hybrid Capital Securities Common Stock - IPO Hybrid Capital Securities Common Stock - Private Asset-Backed Securities Common Stock - Private Common Stock - Follow On Hybrid Capital Securities Common Stock - IPO Common Stock - Follow On Common Stock - IPO Common Stock - Follow On Asset-Backed Securities Certificates of Deposit Common Stock - IPO Certificates of Deposit Common Stock - IPO Common Stock - MHC Conversion Common Stock - 2nd Step Conversion Certificates of Deposit Trust Preferred Securities Common Stock - IPO Common Stock - Follow On Senior Notes Senior Notes Certificates of Deposit

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Capital Market Transactions Jun-06 May-06 May-06 May-06 May-06 May-06 May-06 May-06 May-06 May-06 May-06 May-06 May-06 May-06 Apr-06 Apr-06 Apr-06 Apr-06 Apr-06 Mar-06 Mar-06 Mar-06 Mar-06 Mar-06 Mar-06 Mar-06 Mar-06 Mar-06 Mar-06 Mar-06 Feb-06 Feb-06 Feb-06 Feb-06 Feb-06 Feb-06 Jan-06 Jan-06 Jan-06 Jan-06 Jan-06 Jan-06 Jan-06 Jan-06 Jan-06 Jan-06

Mercantile-Safe Deposit & Trust Company Sovereign Bancorp, Inc. Darwin Professional Underwriters Inc (DR) Hub International Ltd (HBG) GFI Group (GFIG) Thomas Weisel Partners (TWPG) Washington Mutual Bank, FA Washington Mutual Bank, FA Washington Mutual Bank, FA Greenhill & Co (GHL) Union Bank of California NYSE (NYX) NBC Capital Corp (NBY) Banco Espirito Santo (BESNN PL) Nasdaq Stock Market Inc (NDAQ) RAM Holdings Ltd (RAMR) Horace Mann Educators Corporation The Navigators Group, Inc. Annaly Mortgage Management Inc (NLY) United Community Bancorp (UCBA) Summit Bank Corp (SBGA) First Midwest Bancorp, Inc. ECB Bancorp, Inc (ECBE) Compass Bancshares, Inc. CapitalSource (CSE) Reliance Standard Life Insurance Reliance Standard Life Insurance First Midwest Bancorp Inc (FMBI) Mercantile-Safe Deposit & Trust Company Genworth Financial Inc (GNW) Washington Mutual Bank, FA Odyssey Re Holdings Corp Islandsbanki HF Nasdaq Stock Market Inc (NDAQ) Pulaski Financial Corp (PULB) Thomas Weisel Partners (TWPG) SeaBright Insurance Holdings Inc. (SEAB) Arch Capital Group Ltd BankUnited Financial Corp (BKUNA) Fulton Financial Corporation Jefferies Inc. Washington Mutual Bank, FA Advent Capital Holdings GAINSCO, INC. Mercantile-Safe Deposit & Trust Company Greenville Federal Financial Corp. (GVFF)

Sole Agent Joint-Lead Agent Co-Manager Co-Manager Co-Manager Joint Book Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Underwriter Lead Manager Co-Lead Manager Co-Manager Co-Manager Sole Manager Co-Manager Co-Manager Sole Manager Sole Manager Sole Manager Sole Manager Co-Manager Co-Manager Co-Manager Co-Manager Lead Manager Sole Agent Co-Manager Sole Agent Sole Agent Co-Manager Co-Manager Lead Manager Joint Book Manager Co-Manager Underwriter Sole Manager Co-Manager Co-Manager Sole Agent Sole Manager Sole Agent Sole Agent Sole Manager

Date

Issuer

2005 Transactions KBW's Role

Dec-05 Dec-05 Dec-05 Dec-05 Dec-05 Nov-05 Nov-05 Nov-05 Nov-05 Oct-05 Oct-05 Oct-05 Oct-05 Oct-05 Oct-05 Oct-05 Oct-05 Oct-05 Sep-05 Sep-05 Sep-05 Sep-05 Sep-05 Sep-05 Sep-05 Sep-05 Sep-05 Sep-05 Aug-05 Aug-05

Assurance America, Inc. Marfin (MRFKO GA) Gateway Financial Holdings Inc. (GBTS) Scottish Re Group Limited (SCT) International Securities Exchange Inc (ISE) Ambac Financial C-BASS United Community Banks Inc. (UCBI) Zions Bancorporation IPC Holdings Ltd (IPCR) IPC Holdings Ltd (IPCR) Selective Insurance Group CBOT Holdings Inc. (BOT) Ohio Savings Financial Corp Odyssey Re Holdings Corp Navigators Group Inc. (NAVG) Max Re Capital Ltd (MXRE) Endurance Specialty Holdings State National Bancshares, Inc. (SNBI) Axis Capital Holdings Islandsbanki HF Islandsbanki HF JP Morgan Chase & Co. Greene County Bancshares Inc. (GCBS) Connecticut Bank & Trust (CTBC) Genworth Financial Inc (GNW) Amerus Group Co Nexity Financial Corp (NXTY) National Financial Partners Corp. (NFP) Taylor Capital Group Inc (TAYC)

Sole Agent Lead Manager Sole Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Sr. Co-Manager Sole Manager Co-Manager Co-Manager Joint Lead Manager Joint Book Manager Co-Manager Underwriter Lead Manager Underwriter Co-Manager Co-Manager Co-Manager Lead Manager Lead Manager Co-Manager Co-Manager Underwriter Co-Manager Lead Manager

Keefe, Bruyette & Woods

$50.0 $150.0 $96.0 $120.8 $167.2 $135.4 $300.0 $600.0 $350.0 $281.1 $700.0 $1,768.1 $53.8 $1,766.0 $691.2 $140.7 $125.0 $125.0 $460.8 $36.5 $21.9 $100.0 $26.5 $275.0 $413.6 $65.0 $35.0 $151.6 $50.0 $2,332.3 $50.0 $50.0 $500.0 $639.2 $17.5 $103.5 $115.9 $200.0 $153.0 $150.0 $500.0 $400.0 $26.0 $25.0 $50.0 $10.3

Certificates of Deposit Trust Preferred Securities Common Stock - IPO Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Subordinated Notes Subordinated Notes Subordinated Notes Common Stock - Follow On Subordinated Notes Common Stock - Follow On Common Stock - Follow On Rights Offering Common Stock - Follow On Common Stock - IPO Senior Notes Senior Notes Common Stock - Follow On Common Stock - MHC Conversion Common Stock - Follow On Subordinated Notes Common Stock - Follow On Subordinated Notes Common Stock - Follow On Senior Notes Senior Notes Common Stock - Follow On Certificates of Deposit Common Stock - Follow On Certificates of Deposit Senior Notes Senior Notes Common Stock - Follow On Common Stock - Follow On Common Stock - IPO Common Stock - Follow On Perpetual Preferred Stock Common Stock - Follow On Trust Preferred Securities Senior Notes Certificates of Deposit Trust Preferred Securities Trust Preferred Securities Certificates of Deposit Common Stock - MHC Conversion

($mm)

Offering Type

$5.0 $474.4 $36.8 $259.4 $240.0 $400.0 $800.6 $43.1 $600.0 $236.3 $302.6 $100.0 $198.2 $105.0 $100.0 $130.9 $297.3 $200.0 $49.6 $250.0 $750.0 $300.0 $1,250.0 $54.3 $15.7 $2,714.0 $150.0 $31.3 $301.5 $59.9

Trust Preferred Securities Common Stock - Private Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Senior Notes CMO Common Stock - Follow On Subordinated Notes Convertible Preferred Stock Common Stock - Follow On Senior Notes Common Stock - IPO Senior Notes Perpetual Preferred Stock Common Stock - Follow On Common Stock - Follow On Perpetual Preferred Stock Common Stock - IPO Perpetual Preferred Stock Senior Notes Senior Notes Subordinated Notes Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Perpetual Preferred Stock Common Stock - IPO Common Stock - Follow On Common Stock - Follow On

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Capital Market Transactions Aug-05 Aug-05 Aug-05 Aug-05 Aug-05 Aug-05 Aug-05 Jul-05 Jul-05 Jun-05 Jun-05 Jun-05 Jun-05 Jun-05 Jun-05 Jun-05 Jun-05 Jun-05 Jun-05 Jun-05 Jun-05 May-05 May-05 May-05 May-05 May-05 Apr-05 Apr-05 Apr-05 Mar-05 Mar-05 Mar-05 Mar-05 Mar-05 Mar-05 Mar-05 Mar-05 Mar-05 Mar-05 Mar-05 Mar-05 Feb-05 Jan-05 Jan-05 Jan-05 Jan-05

Compass Bank Keycorp BB&T Corporation First Security Group Inc (FSGI) James River Group Inc (JRVR) Compass Bank Republic Companies Group Inc (RUTX) JP Morgan Chase & Co. Mercantile-Safe Deposit & Trust Company BB&T Corporation Western Alliance Bancorp (WAL) Scottish Re Group, Ltd American General Holdings, Inc. Trustmark Group, Inc. ATEbank (ATE GA) CenterState Banks of Florida (CSFL) Metlife Inc (MET) Compass Bank First California Bank (FCAA) FBOP Corporation Hudson City Bancorp Inc. (HCBK) Southwest Bancorp (OKSB) Bank of Oklahoma Mercantile-Safe Deposit & Trust Company Cardinal Financial (CFNL) Greenhill & Co (GHL) Bancorp of Rhode Island (BARI) Greater Bay Bancorp NLV Financial Corp. Signature Bank (SBNY) Marshall & Illsley Bank Genworth Financial Inc (GNW) Aspen Insurance (AHL) Fulton Financial Corp Mercantile-Safe Deposit & Trust Company First Southern Bancorp Compass Bank JP Morgan Chase & Co. International Securities Exchange Inc (ISE) NLV Financial Corp. US Bancorp Preferred Bank (PFBC) Dollar Financial Corp. (DLLR) Compass Bank JP Morgan Chase & Co. Sovereign Bank

Sole Agent Co-Manager Co-Manager Lead Manager Lead Manager Sole Agent Co-Manager Co-Manager Sole Agent Co-Manager Co-Manager Co-Manager Sole Agent Sole Agent Co-Lead Manager Lead Manager Co-Manager Sole Agent Sole Manager Sole Manager Selling Group Co-Manager Joint Lead Manager Sole Agent Underwriter Co-Manager Co-Manager Sole Manager Sole Manager Underwriter Sole Agent Co-Manager Co-Manager Co-Manager Sole Agent Sole Manager Co-Manager Co-Manager Underwriter Sole Manager Underwriter Co-Manager Co-Manager Sole Agent Co-Manager Sole Agent

Date

Issuer

2004 Transactions KBW's Role

Dec-04 Dec-04 Dec-04 Dec-04 Dec-04 Dec-04 Nov-04 Nov-04 Nov-04 Nov-04 Nov-04 Nov-04 Nov-04 Nov-04 Nov-04 Nov-04 Nov-04 Oct-04 Oct-04 Oct-04 Oct-04 Oct-04 Oct-04 Sep-04 Sep-04 Sep-04 Sep-04 Sep-04 Sep-04 Sep-04

Sussex Bancorp (SBB) North Country Financial Corp (NCFC) Fidelity Bankshares, Inc (FFFL) Community Bancorp (CBON) Wachovia Corporation First Tennessee Bank Popular, Inc. R&G Financial Corp. Marshall & Ilsley Bank PXRE Group Ltd (PXT) GB&T Bancshares, Inc (GBTB) Mercantile-Safe Deposit & Trust Company Selective Insurance Group, Inc. Privee, LLC Washington Mutual Bank FA Washington Mutual Bank FA BB&T Corporation Calamos Asset Management Inc (CLMS) Tower Group Inc (TWGP) Wachovia Bank NA Wachovia Bank NA EMC Insurance Group, Inc (EMCI) Converium Holding AG (CHR) Triple-S, Inc. Primus Guaranty Ltd (PRS) JP Morgan Chase & Co. JP Morgan Chase & Co. Mercantile-Safe Deposit & Trust Company JP Morgan Chase & Co. Doral Financial Corp

Sole Manager Lead Manager Lead Manager Lead Manager Co-Manager Selling Group Co-Manager Co-Manager Co-Manager Joint Lead Manager Sole Manager Sole Agent Sole Manager Sole Manager Co-Manager Co-Manager Co-Manager Underwriter Co-Manager Co-Manager Co-Manager Lead Manager Co-Manager Sole Agent Co-Manager Co-Manager Co-Manager Sole Agent Co-Manager Co-Manager

Keefe, Bruyette & Woods

$85.0 $500.0 $500.0 $48.7 $92.0 $65.0 $84.0 $500.0 $50.0 $400.0 $92.4 $125.0 $8.0 $75.0 $36.2 $37.4 $2,070.0 $50.0 $21.7 $150.0 $2,573.7 $42.5 $150.0 $50.0 $42.7 $156.4 $23.3 $150.0 $25.0 $413.4 $125.0 $2,133.3 $183.0 $100.0 $50.0 $16.6 $300.0 $1,000.0 $208.0 $50.0 $275.0 $92.6 $120.0 $40.0 $2,750.0 $200.0

Certificates of Deposit Senior Notes Trust Preferred Securities Common Stock - IPO Common Stock - IPO Certificates of Deposit Common Stock - IPO Trust Preferred Securities Certificates of Deposit Subordinated Notes Common Stock - IPO Perpetual Preferred Stock Trust Preferred Securities Trust Preferred Securities Common Stock - Follow On Common Stock - Follow On Convertible Preferred Stock Certificates of Deposit Common Stock - PIPE Perpetual Preferred Stock Common Stock - Follow On Common Stock - Follow On Subordinated Notes Certificates of Deposit Common Stock - Follow On Common Stock - Follow On Common Stock - Follow On Senior Notes Senior Notes Common Stock - Follow On Certificates of Deposit Common Stock - Follow On Common Stock - Follow On Subordinated Notes Certificates of Deposit Common Stock - Private Subordinated Notes Trust Preferred Securities Common Stock - IPO Senior Notes Trust Preferred Securities Common Stock - IPO Common Stock - IPO Certificates of Deposit Senior Notes Certificates of Deposit

($mm)

Offering Type

$16.1 $30.0 $46.3 $60.7 $1,000.0 $400.0 $130.0 $125.0 $300.0 $143.4 $38.0 $35.0 $50.0 $40.0 $500.0 $1,000.0 $600.0 $414.0 $127.1 $250.0 $750.0 $76.1 $422.5 $50.0 $139.7 $1,000.0 $500.0 $42.0 $475.0 $625.0

Common Stock - Follow On Common Stock - PIPE Common Stock - Follow On Common Stock - IPO Senior Notes Subordinated Debt Trust Preferred Securities Trust Preferred Securities Subordinated Debt Common Stock - Follow On Common Stock - Follow On Certificates of Deposit Senior Debt Common Stock - Private Subordinated Debt Subordinated Debt Subordinated Debt Common Stock - IPO Common Stock - IPO Subordinated Debt Subordinated Debt Common Stock - Follow On Rights Offering Senior Debt Common Stock - IPO Senior Debt Senior Debt Certificates of Deposit Trust Preferred Securities Senior Debt

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Capital Market Transactions Aug-04 Aug-04 Aug-04 Aug-04 Aug-04 Aug-04 Jul-04 Jul-04 Jul-04 Jul-04 Jul-04 Jul-04 Jul-04 Jul-04 Jun-04 Jun-04 Jun-04 Jun-04 May-04 May-04 May-04 May-04 May-04 May-04 Apr-04 Apr-04 Apr-04 Apr-04 Apr-04 Apr-04 Apr-04 Apr-04 Mar-04 Mar-04 Mar-04 Mar-04 Mar-04 Mar-04 Mar-04 Mar-04 Mar-04 Mar-04 Mar-04 Mar-04 Mar-04 Mar-04 Feb-04 Feb-04 Feb-04 Feb-04 Feb-04 Feb-04 Feb-04 Feb-04 Feb-04 Feb-04 Jan-04 Jan-04 Jan-04

SNB Bancshares Inc (SNBT) Mercantile-Safe Deposit & Trust Company EuroBancshares Inc (EUBK) Placer Sierra Bancshares (PLSB) Texas United Bancshares (TXUI) JMP Holdings Inc. Alabama National Bancorpation (ALAB) Mercantile-Safe Deposit & Trust Company Wachovia Corporation Wachovia Corporation Wachovia Corporation Collegiate Funding Services Inc (CFSI) Partners Trust Financial (PRTR) thinkorswim group, Inc. Popular North America, Inc. Mercantile-Safe Deposit & Trust Company Emigrant Bancorp, Inc. Southern Connecticut Bancorp Inc (SSE) Genworth Financial Inc (GNW) J.P. Morgan Chase & Co. Conseco Inc. (CNO) Greenhill & Co (GHL) Zions Bancorporation Peoples Community Bancorp, Inc. (PCBI) Security Bank (SBKC) Susquehanna Bancshares, Inc. Assured Guaranty (AGO) Hibernia Corporation USI Holdings Corp (USIH) Tib Financial Corp (TIBB) Webster Financial Corporation FBL Financial Group, Inc. National Financial Partners Corp (NFP) First Regional Bancorp (FRGB) Direct General Corp (DRCT) Signature Bank (SBNY) Mercantile-Safe Deposit & Trust Company Sunset Financial Resources Inc (SFO) XL Capital LTD. (XL) Washington Mutual, Inc. Independence Community Bank Corp. Kingsway America, Inc. NYMAGIC, Inc. Oriental Financial Group (OFG) J.P. Morgan Chase & Co. J.P. Morgan Chase & Co. Tortoise Energy Infrastructure Corp (TYG) Sovereign Bancorp Inc (SOV) Willis Group Holdings Ltd. (WSH) Bristol West Holdings Inc (BRW) Affordable Residential Communities (ARC) Assurant Inc (AIZ) Wachovia Corporation Wachovia Corporation Wachovia Corporation CapitalSource Inc. (CSE) Kingsway America, Inc. Hartford Financial Services Group Inc Transatlantic Bank

Keefe, Bruyette & Woods

Lead Manager Sole Agent Lead Manager Co-Manager Underwriter Co-Lead Manager Lead Manager Sole Agent Co-Manager Co-Manager Co-Manager Co-Manager Selling Group Sole Manager Joint Lead Manager Sole Agent Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Co-Manager Sole Manager Co-Manager Lead Manager Co-Manager Co-Manager Co-Manager Underwriter Co-Manager Lead Manager Underwriter Sole Manager Lead Manager Underwriter Sole Agent Underwriter Co-Manager Co-Manager Co-Manager Sole Manager Lead Manager Lead Manager Co-Manager Co-Manager Underwriter Co-Manager Underwriter Co-Manager Co-Manager Selling Group Co-Manager Co-Manager Co-Manager Underwriter Sole Manager Underwriter Sole Manager

$57.1 $35.0 $62.7 $130.2 $39.1 $34.5 $53.0 $35.0 $2,400.0 $1,100.0 $1,500.0 $150.0 $148.8 $22.5 $400.0 $30.0 $200.0 $14.6 $2,855.6 $150.0 $923.5 $100.6 $300.0 $27.3 $20.5 $75.0 $882.0 $100.0 $165.3 $22.0 $150.0 $75.0 $222.2 $17.2 $130.5 $96.3 $25.0 $130.0 $825.0 $750.0 $250.0 $25.0 $100.0 $82.6 $1,000.0 $600.0 $315.0 $800.0 $880.2 $345.0 $480.7 $2,024.0 $1,250.0 $500.0 $900.0 $430.0 $100.0 $423.9 $3.6

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