NetBank, Inc. (NetBank) is a financial holding company engaged primarily in retail banking, mortgage banking, business finance and providing automated teller machine (ATM) and merchant processing services. NetBank, Inc. wholly owns the outstanding stock of NetBank (NetBank, FSB or the Bank), a federal savings bank; MG Reinsurance Company, a captive reinsurance company; NetInsurance, Inc., an insurance agency, and NB Partners, Inc., a corporation involved in partnering opportunities. NetBank, FSB owns all of the outstanding stock of Market Street Mortgage Corporation (Market Street), a retail mortgage company; NetBank Payment Systems, Inc., a provider of ATM and merchant processing services for retail and other non-bank businesses; Meritage Mortgage Corporation (Meritage), a wholesale non-conforming mortgage provider, and Financial Technologies, Inc. (FTI), a provider of transaction processing services to financial services companies. NetBank, FSB's wholesale mortgage division operates as NetBank Funding Services (NetBank Funding); its business financing division operates as NetBank Business Finance; its automobile financing division operates as Dealer Financial Services, and its recreational vehicle financing division operates as Beacon Credit Services. NetBank organizes its operations into three segments: Retail Banking, Financial Intermediary and Transaction Processing. During the year ended December 31, 2005, FTI became a subsidiary of NetBank, FSB. Resource Bancshares Mortgage Group, Inc. and Republic Leasing Company, Inc. (Republic), both of which had been subsidiaries of NetBank, FSB, were consolidated into NetBank, FSB and ceased to exist as separate corporations during the year ended December 31, 2004. Republic operates as the NetBank Business Finance division of NetBank, FSB. During 2004, Meritage became a wholly owned subsidiary of NetBank, FSB. Meritage was previously a wholly owned subsidiary of the Company. In addition, during 2004, RBMG, Inc. was legally consolidated into NetBank, FSB. RBMG, Inc. operates as the NetBank Funding division of NetBank, FSB. Retail Banking The retail banking segment comprises the Company's personal and small business banking operations, automobile financing unit and business financing unit. NetBank, FSB, through its Internet banking operations, operates as a Federal Deposit Insurance Corporation-insured, federally chartered institution that serves approximately 285,669 customers throughout the United States and in more than 90 foreign countries. NetBank, FSB delivers its products and services through remote delivery channels, such as the Internet, telephone and ATMs, which are available 24/7. It does not maintain a branch network to support its banking business. NetBank, FSB offers a line of deposit and loan products, including checking and savings accounts, a small business banking program, online bill payment, auto loans and financial planning services. The business finance operation generally provides leasing and other equipment or facility-related funds to small and mid-sized companies across the United States. These business customers generally have annual revenues in the $200,000 to $5 million range. The loans and leases generated through the auto lending and business finance units are generally retained to meet the Bank's investment needs from a Treasury perspective. Financial Intermediary The financial intermediary segment houses the Company's mortgage and specialty lending operations. Through the segment's various loan operations, NetBank serves as an intermediary between consumers and institutional investors. The bulk of the business in this segment relates to mortgage lending, including conforming and non-conforming products. The Company obtains mortgage loans by originating loans directly with consumers or through a network of brokers in the United States. NetBank also buys closed loans from a network of correspondent banks, thrifts and independent mortgage companies. In addition, the Company earns fees on the loans originated, as well as gains on

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