GS Financial Corp.

Consolidated Statements of Financial Condition

($ in thousands)

March 31, 2008

(Unaudited)

December 31, 2007

(Audited)

ASSETS

Cash and Amounts due from Depository Institutions

 $                      2,751

 $                        2,485

Interest-Bearing Deposits in Other Banks

                          7,076

                           6,008

Federal Funds Sold

                          1,658

                           969

Securities Available-for-Sale, at Fair Value

                      47,964

                         47,747

Loans, Net

                       129,815

                         118,477

Accrued Interest Receivable

1,716

1,828

Premises & Equipment, Net

                          5,863

                           5,874

Stock in Federal Home Loan Bank, at Cost

                           1,651

                         1,220

Foreclosed Assets

85

-

Real Estate Held-for-Investment, Net

                             446

                              450

Other Assets

1,496

1,429

Total Assets

 $                  200,521

 $                    186,487

LIABILITIES

Interest-Bearing Deposits

 $                  125,168

 $                    123,825

Noninterest-Bearing Deposits

8,162

5,685

FHLB Advances

                       37,537

                         26,986

Other Liabilities

1,535

1,827

Total Liabilities

                     172,402

                       158,323

STOCKHOLDERS' EQUITY

Common Stock

 $                            34

 $                            34

Additional Paid-in Capital

34,546

34,546

Unearned RRP Trust Stock

                           (158)

                            (158)

Treasury Stock

                      (32,062)

                       (32,062)

Retained Earnings

                       25,917

                         25,919

Accumulated Other Comprehensive Loss

                           (158)

                            (115)

Total Stockholders' Equity

                       28,119

                         28,164

Total Liabilities & Stockholders' Equity

 $                  200,521

 $                    186,487

Selected Asset Quality Data

Total Non Performing Assets

$                     3,247     

$                        1,438

Non Performing Assets to Total Assets

1.62%

0.77%

GS Financial Corp.

Condensed Consolidated Statements of Income

(Unaudited)

For the Three Months Ended March 31,

($ in thousands, except per share data)

2008

2007

Interest and Dividend Income

$       2,987

$       2,654

Interest Expense

1,496

1,284

Net Interest Income

1,491

1,370

Provision for Loan Losses

-

-

Net Interest Income after Provision for Loan Losses

1,491

1,370

Non-interest Expense

1,416

1,276

Net Income Before Non-Interest Income and Income Taxes

75

94

Non-interest Income

115

29

Income Before Income Tax Expense

190

123

Income Tax Expense

64

27

Net Income

126

96

Earnings Per Share – Basic

$     0.10

$     0.08

Earnings Per Share –Diluted

$     0.08

$     0.08

Selected Operating Data

Weighted Average Shares Outstanding

1,285,800

1,234,453

Return on Average Assets ¹

0.26%

0.20%

Non-Interest Expense/Average Assets¹

2.91%

3.10%

Net Interest Margin¹

3.23%

3.48%

¹ Annualized