EFTA00197288 FRIEDMAN, BILLINGS, RAMSEY & CO., INC. OFFICE SERVICING YOUR ACCOUNT 1001 Nineteenth Street North Arlington, Virginia 22209-1722 Telephone (703) 312 9500 Fax (703) 312 9501 E-Mail info@fbr.com VISIT OUR WEBSITE www.fbr.com ## What’s In This Statement
Your Portfolio Holdings1
Your Messages2
FINANCIAL TRUST CO., INC 600 REDHOOK QUARTER STE B-3 ST THOMAS US US VI 00802 ## Your Portfolio Holdings ## CLEARANCE AGENT ## Equities & Options
DESCRIPTIONSYMBOL/CUSIPACCT TYPEQUANTITYPRICEMARKET VALUEESTIMATED ANNUAL INCOMECURRENT YIELD(%)
FRANKLIN BANK CORPCL A ACCREDITED INVSCASH100,000Unpriced
Total Equities&Options$0$0
TOTAL EQUITIES$0$0
## EQUITIES Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO., INC STATEMENT PERIOD March 1, 2003 THROUGH March 28, 2003 ACCOUNT NUMBER | LAST STATEMENT | December 31, 2002 | | :--- | :--- | TAXPAYER NUMBER On File SIPC This summary is for informational purposes only. It is not intended as a tax document. This statement should be retained for your records. See reverse side for important information. 027 03/29/03;15:39 001 V642 EFTA00197289 FRIEDMAN, BILLINGS, RAMSEY & CO., INC. CLEARANCE AGENT OFFICE SERVICING YOUR ACCOUNT 1001 Nineteenth Street North Arlington, Virginia 22209-1722 Telephone (703) 312 9500 Fax (703) 312 9501 E-Mail info@fbr.com Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 2 of 3 FINANCIAL TRUST CO., INC ## Your messages STATEMENT PERIOD March 1, 2003 Bear, Stearns Securities Corp. Net Capital and Net Capital Requirements: THROUGH March 28, 2003 AGCOUNT NUMBER A complete copy of the Bear, Stearns Securities Corp. Statement of Financial Condition is available on the web site www.bsscfinancialstatement.com . Alternatively, to request a free printed copy please call - toll free 1-866-299-9331 At November 30, 2002 and January 31, 2003, the Company's net capital of approximately $2.4 billion and $2.4 billion was approximately 7% and 7% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately $716.3 million and $684.1 million by approximately $1.7 billion and $1.7 billion, all respectively. TAXPAYER NUMBER On File | LAST STATEMENT | December 31, 2002 | | :--- | :--- | ## NOTICE OF CHANGE PURSUANT TO THE TRUTH IN LENDING SEC RULE 10b-16 Effective as of May 21, 2003, the annual rate of interest charged on any credit extended to you by Bear Stearns Securities for the purpose of purchasing, carrying or trading in any security or other property shall be based on either the BSSC Base Lending Rate, the BSSC Fed Funds Rate or the London Interbank Offering Rate ("LIBOR"). The BSSC Base Lending Rate will be quoted by Bear Stearns at our main office in New York. Factors affecting the determination of the BSSC Base Lending Rate will include the short-term market interest rates quoted by money center banks and the Federal Reserve and the rate that Bear Stearns Securities is charged for borrowing money. The BSSC Fed Fund rate is the rate for U,S, dollar funds, as quoted by an independent broker or such funds selected by Bear Stearns Securities for the last transaction completed prior to 9:30 a.m. (Eastern Time) on the business day on which such rate is determined. The annual rate of interest will be no more than 400 basis points above the BSSC Base Lending Rate or 500 basis points above either the BSSC Fed Funds Rate or LIBOR and will appear on your monthly statements. Since the rate of interest charged is related to the BSSC Base Lending Rate, the BSSC Fed Funds Rate or LIBOR, any changes in these rates will cause corresponding changes in the rate charged to your account, which changes will be made without prior notice to you. If for any other reason Bear Stearns Securities changes the rate of interest it charges you, we will give you at least 30 days prior notice. The Statement of Interest Charges Pursuant to the "Truth-in-Lending" SEC Rule 10b-16 previously provided to you remains in effect except to the extent specifically amended by this notice. 027 03/29/03;15:39 001 EFTA00197290 CLEARANCE AGENT Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 3 of 3 FINANCIAL TRUST CO., INC STATEMENT BACKER IS PRINTED ON THIS PAGE EFTA00197291