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Exhibit 99.1
INDEPENDENT ACCOUNTANTS' REPORT
To the Board of Directors and Stockholders
Valrico Bancorp, Inc. and Subsidiary
Valrico, Florida
We have reviewed the consolidated balance sheet of Valrico Bancorp, Inc. as of
June 30, 2000, and the related consolidated statements of income for the
quarters, and six months ended June 30, 2000 and June 30, 1999, and the
consolidated statements of cash flow and stockholders' equity for the six months
ended June 30, 2000 and June 30, 1999. These financial statements are the
responsibility of the Company's management.
We conducted our review in accordance with standards established by the American
Institute of Certified Public Accountants. A review of interim financial
information consists principally of applying analytical procedures to financial
data and making inquires of persons responsible for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance
with generally accepted auditing standards, the objective of which is the
expression of an opinion regarding the financial statements taken as a whole.
Accordingly, we do not express such an opinion.
Based on our review, we are not aware of any material modifications that should
be made to the accompanying financial statements for them to be in conformity
with generally accepted accounting principles.
\s\ Rex Meighen & Company
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Rex Meighen & Company
Certified Public Accountants
Tampa, Florida
August 7, 2000
