Message to Shareholders:

I am pleased to report on the 2008 accomplishments of Rich Land Bancorp, Inc. and its wholly owned subsidiary, TrustBank™.  This Annual Report reflects the consolidated financial statements of Rich Land Bancorp, Inc. as of December 31, 2008 and 2007.

2008 was our second year of operation as a Sub Chapter S organization.  The Corporation’s net income in 2008 was $1,095,000.  This equates to earnings per share of $1.37, based on shares outstanding at December 31, 2008.  Quarterly income distributions from 2008 earnings totaled $1.20 per share.  Our income distribution ratio for 2008 was 87.6% of Net Income.

Loans, net of allowance for loan losses, grew by $15,695,000.  Total Assets increased from $152,172,000 at year end 2007 to $155,312,000 at year end 2008.  This is a 2.06% increase in Total Assets for the twelve month period.  Total stockholder equity increased from $17,754,000 to $18,347,000 at year end.  This is a 3.34% increase in stockholder equity for the year. 

During 2008, the book value per share of stock increased by 5.94%, moving from $21.73 per share to $23.02 per share.
It is the mission of TrustBank 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.  The financial results of 2008 reflect our strategy to pass along the benefits of choosing to be a Sub Chapter S organization to our shareholders.      
As we look forward to 2009, our pledge to you, the shareholder, is to manage the corporation in a manner that results in maximum shareholder value.  Our plan 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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