I am pleased to report on the 2003 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, 2003 and 2002.

The Corporation’s net income in 2003 was $1,157,000. This equates to earnings per share of $1.45, based on average shares outstanding at December 31, 2003.

During 2003, the book value per share of Rich Land Bancorp, Inc. stock increased by 3.75%, moving from $17.36 per share to $18.01. The market value ended the year at $20.00 per share. Our capital grew to $14,353,000, reflecting an increase of 6.17%. Dividends paid in 2003 totaled the equivalent of $0.62 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 17 consecutive years of increasing dividends paid to our shareholders.

During 2003, we introduced an updated Web site located at www.trustbank.net. The primary goal of the new look was to make accessing information and online services from TrustBank™ faster and easier. The redesign improved both the look and functionality of the site.

OUR MOTTO: “The Only Bank You’ll Ever Need”

OUR VISION: “Providing Premier Financial Products with Superior Service”

OUR GOAL: To be the bank
• whose CUSTOMERS wouldn’t think of banking anywhere else;
• whose EMPLOYEES are envied by their peers;
• whose SHAREHOLDERS cherish their stock;
• whose REGULATORS consider it the industry standard.

OUR MISSION STATEMENT: The mission of TrustBank™ is to be a premier financial service organization in our market area – that offers superior long-term return to our shareholders, opportunity for our staff and both financial and personal support for the market area we serve.

Sincerely,

Bruce A. Runyon
President & Chief Executive Officer
Rich Land Bancorp, Inc.

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