I am pleased to report on the 2004 accomplishments of Rich Land Bancorp, Inc. and its wholly owned subsidiary, TrustBank™. This Annual Report reflects the comparative consolidated financial statements of Rich Land Bancorp, Inc. as of December 31, 2004 and 2003.

The Corporation’s net income in 2004 was $1,302,000. This equates to earnings per share of $1.58, based on average shares outstanding at December 31, 2004. Net Income for 2004 increased 12.14% above the 2003 level. Total Assets at year end were $126,676,000 - representing a 3.36% increase in the 12 month period.

During 2004, the book value per share of stock increased by 3.61%, moving from $18.01 per share to $18.66 per share. The market value increased by 12.5%, moving from $20.00 per share to the current price of $22.50 per share. Our capital grew by 7.37% to $15,411,000. Dividends paid in 2004 totaled the equivalent of $0.63 per share, paid in the form of a stock dividend, with fractional shares paid in cash. Rich Land Bancorp, Inc. is proud of its record of 18 consecutive years of increasing dividends paid to our shareholders.

The total return earned on one share of Rich Land Bancorp, Inc. stock during 2004, including both the dividend of $0.63 and the price appreciation of $2.50, was 15.65%.

As we look forward to 2005, our pledge to you, the shareholder, is to manage the corporation in a manner that results in maximum shareholder value. Our strategy to accomplish this promise is:

“Providing Premier Financial Products with Superior Service”.

With Warm Regards,

Bruce A Runyon
President and Chief Executive Officer

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