v2.3.0.11

Condensed Balance Sheets (USD $) In Thousands	Jun. 30, 2011	Dec. 31, 2010
Assets:
Cash	$ 4,035	$ 6,734
Residential mortgage loans	113,489	125,864
Allowance for loan losses	(1,661)	(1,714)
Residential mortgage loans, net	111,828	124,150
Other real estate owned	163	241
Accrued interest receivable and other assets	409	433
Total assets	116,435	131,558
Liabilities:
Accrued dividends	180	927
Accrued expenses and other liabilities	71	44
Total liabilities	251	971
Shareholder's Equity:
Series B 8.625% cumulative redeemable preferred stock, liquidation preference $10 per share; par value $1.00 per share: 1,000,000 shares authorized, issued and outstanding	1,000	1,000
Common stock, par value $.01 per share: Authorized - 1,000 shares Issued and outstanding - 100 shares	1	1
Paid-in capital	117,800	132,800
Accumulated deficit	(2,617)	(3,214)
Total shareholder's equity	116,184	130,587
Total liabilities and shareholder's equity	$ 116,435	$ 131,558

Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.

WEBSTER PREFERRED CAPITAL CORP 10-Q