AGENCY AGREEMENT

                                7,762,500 Shares
                   (subject to increase up to 8,926,875 shares
               in the event of an increase in the pro forma market
                           value of the Common Stock)

                           Roma Financial Corporation
                  (a Federally-chartered stock holding company)


                                  Common Stock
                           (par value $0.10 per share)


                                AGENCY AGREEMENT


                                  May ___, 2006


SANDLER O'NEILL + PARTNERS, L.P.
919 Third Avenue, 6th Floor
New York, New York 10022

Ladies and Gentlemen:

     Roma Financial  Corporation,  a  Federally-chartered  stock holding company
(the "Company"),  Roma Financial Corporation,  MHC, a Federally-chartered mutual
holding company (the "MHC"), and Roma Bank, a  Federally-chartered  savings bank
(the "Bank"),  hereby confirm their  agreement with Sandler  O'Neill + Partners,
L.P.  ("Sandler  O'Neill" or the "Agent")  with respect to the offer and sale by
the Company of up to  7,762,500  shares  (subject  to  increase up to  8,926,875
shares  in the  event  of an  increase  in the pro  forma  market  value  of the
Company's common stock) of the Company's common stock, par value $0.10 per share
(the  "Common  Stock").  The shares of Common Stock to be sold by the Company in
the Offerings (as defined below) are  hereinafter  called the  "Securities."  In
addition,  as described herein,  the Company expects to contribute up to 258,750
shares  (subject to increase up to 297,563 shares in the event of an increase in
the pro forma market  value of the  Company's  common  stock) of Common Stock to
Roma Bank Community Foundation, a charitable foundation (the "Foundation"), such
shares hereinafter being referred to as the "Foundation Shares."

     The  Securities  are being offered for sale and the  Foundation  Shares are
being  contributed  in  accordance  with the Stock  Issuance  Plan (such plan as
amended to date, the "Plan")  adopted by the Boards of Directors of the Company,
the MHC and the Bank,  which provides for a stock offering of up to 49.9% of the
Common Stock of the Company.

     Pursuant to the Plan,  the Company will offer to certain  depositors of the
Bank and to the Bank's tax  qualified  employee  benefit  plans,  including  the
Bank's employee stock ownership plan

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<PAGE>

(the "ESOP") (collectively,  the "Employee Plans"),  rights to subscribe for the
Securities in a  subscription  offering (the  "Subscription  Offering").  To the
extent  Securities  are not subscribed for in the  Subscription  Offering,  such
Securities  may be  offered  to  certain  members  of the  general  public  in a
community  offering (the "Community  Offering"),  with preference given first to
natural  persons  residing in Mercer and Burlington  Counties,  New Jersey,  and
second to other  natural  persons  residing  in New  Jersey to whom the  Company
delivers a Prospectus (as hereinafter  defined).  The Community Offering,  which
together  with the  Subscription  Offering,  as each may be extended or reopened
from time to time,  are herein  referred to as the  "Subscription  and Community
Offering," may be commenced concurrently with, during or after, the Subscription
Offering.  It is  currently  anticipated  by the Bank and the  Company  that any
Securities not subscribed for in the Subscription and Community Offering will be
offered,  subject to Section 2 hereof, in a syndicated  community  offering (the
"Syndicated  Community  Offering").  The Subscription and Community Offering and
the Syndicated  Community  Offering are hereinafter  referred to collectively as
the "Offerings."

     In  connection  with the Offerings and pursuant to the terms of the Plan as
described  in the  Prospectus,  the Bank intends to  establish  the  Foundation.
Immediately  following the consummation of the Offerings,  subject to compliance
with certain conditions as may be imposed by regulatory authorities, the Company
will  contribute  $200,000 in cash and newly issued shares of Common Stock in an
amount equal to 1.00% of the number of shares that will be outstanding following
the shares sold in the Offerings and issued to the MHC.

     The Company has filed with the  Securities  and  Exchange  Commission  (the
"Commission") a registration statement on Form S-1 (No. 333-132415), including a
related  prospectus,  for the  registration of the Securities and the Foundation
Shares under the Securities Act of 1933, as amended (the "Securities  Act"), has
filed such amendments thereto, if any, and such amended prospectuses as may have
been  required to the date  hereof by the  Commission  in order to declare  such
registration  statement  effective,  and will  file such  additional  amendments
thereto  and  such  amended  prospectuses  and  prospectus  supplements  as  may
hereafter be  required.  Such  registration  statement  (as amended to date,  if
applicable,  and as from time to time amended or supplemented hereafter) and the
prospectuses  constituting a part thereof  (including in each case all documents
incorporated  or  deemed  to  be  incorporated  by  reference  therein  and  the
information,  if any,  deemed  to be a part  thereof  pursuant  to the rules and
regulations  of the Commission  under the  Securities  Act, as from time to time
amended  or  supplemented  pursuant  to the  Securities  Act or  otherwise  (the
"Securities Act Regulations")), are hereinafter referred to as the "Registration
Statement"  and the  "Prospectus,"  respectively,  except  that  if any  revised
prospectus  shall be used by the Company in connection with the Subscription and
Community  Offering or the Syndicated  Community Offering which differs from the
Prospectus  on file at the  Commission  at the time the  Registration  Statement
becomes  effective  (whether or not such  revised  prospectus  is required to be
filed by the Company pursuant to Rule 424(b) of the Securities Act Regulations),
the term "Prospectus"  shall refer to such revised prospectus from and after the
time it is first provided to the Agent for such use.

     Concurrently  with  the  execution  of  this  Agreement,   the  Company  is
delivering  to the Agent copies of the  Prospectus  of the Company to be used in
the Offerings.  Such Prospectus  contains  information with respect to the Bank,
the Company, the MHC and the Common Stock.

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<PAGE>

     SECTION 1. REPRESENTATIONS AND WARRANTIES.

     (a) The Company,  the Bank and the MHC jointly and severally  represent and
warrant to the Agent as of the date hereof as follows:

          (i) The  Registration  Statement  has been  declared  effective by the
     Commission,  no stop order has been  issued  with  respect  thereto  and no
     proceedings  therefor  have  been  initiated  or, to the  knowledge  of the
     Company,  the MHC and the Bank,  threatened by the Commission.  At the time
     the  Registration  Statement  became  effective  and  at the  Closing  Time
     referred to in Section 2 hereof,  the Registration  Statement  complied and
     will  comply  in  all  material  respects  with  the  requirements  of  the
     Securities Act and the Securities Act  Regulations and did not and will not
     contain an untrue  statement of a material fact or omit to state a material
     fact  required to be stated  therein or  necessary  to make the  statements
     therein not misleading.  The Prospectus, at the date hereof does not and at
     the  Closing  Time  referred  to in Section 2 hereof  will not,  include an
     untrue  statement  of a  material  fact or omit to  state a  material  fact
     necessary  in order to make the  statements  therein,  in the  light of the
     circumstances  under  which  they  were  made,  not  misleading;  provided,
     however,  that the  representations and warranties in this subsection shall
     not apply to statements in or omissions from the Registration  Statement or
     Prospectus  made in reliance upon and in conformity with  information  with
     respect  to the Agent  furnished  to the  Company  in  writing by the Agent
     expressly for use in the  Registration  Statement or Prospectus (the "Agent
     Information,"  which the Company,  the MHC and the Bank acknowledge appears
     only  in the  sixth  paragraph  of the  section  "The  Offering  - Plan  of
     Distribution/Marketing Arrangements" of the Prospectus).

          (ii)  Pursuant  to the rules and  regulations  of the Office of Thrift
     Supervision (the "OTS"),  as from time to time amended or supplemented (the
     "OTS  Regulations"),  the Company has filed with the OTS an Application for
     Approval of Minority Stock Issuance by a Savings Association  Subsidiary of
     a Mutual Holding Company on Form MHC-2, which includes a related prospectus
     and the Plan,  and has filed  such  amendments  thereto  and  supplementary
     materials as may have been  required to the date hereof (such  application,
     as  amended to date,  if  applicable,  and as from time to time  amended or
     supplemented  hereafter,  is hereinafter referred to as the "Stock Issuance
     Application"). The Plan has been duly adopted by the Boards of Directors of
     the  Company,  the Bank and the MHC and such  adoption  has not since  been
     rescinded or revoked.  The Stock Issuance  Application has been approved by
     the  OTS.  The  OTS  has  declared  the   Prospectus   effective  and  such
     effectiveness remains in full force and effect and no order has been issued
     by the OTS  suspending or revoking such  effectiveness  and no  proceedings
     therefor have been  initiated or, to the knowledge of the Company,  the MHC
     or the  Bank,  threatened  by the  OTS.  At the date of such  approval  and
     effectiveness  and at the Closing  Time  referred to in Section 2, the Plan
     complied  and will  comply in all  material  respects  with the  applicable
     provisions of the OTS  Regulations.  No approval of any other regulatory or
     supervisory  or other public  authority is required in connection  with the
     implementation  of the Plan that has not been  obtained and a copy of which
     has been delivered to the Agent.

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<PAGE>

          (iii) The Company,  the MHC and the Bank have filed the Prospectus and
     any  supplemental  sales  literature  with the  Commission and the OTS. The
     Prospectus  and all  supplemental  sales  literature,  as of the  date  the
     Registration Statement became effective and at the Closing Time referred to
     in Section 2,  complied and will comply in all material  respects  with the
     applicable  requirements of the Securities Act Regulations and, at or prior
     to  the  time  of  their  first  use,   will  have  received  all  required
     authorizations of the OTS and Commission for use in final form. No approval
     of any  other  regulatory  or  supervisory  or other  public  authority  is
     required in connection  with the  distribution  of the  Prospectus  and any
     supplemental  sales  literature  that has not been  obtained  and a copy of
     which has been  delivered to the Agent.  The Company,  the MHC and the Bank
     have not distributed any offering  material in connection with the Offering
     except for the Prospectus and any supplemental sales material that has been
     filed with the Registration Statement and the Stock Issuance Application.

          (iv) None of the Commission,  the OTS or any "Blue Sky" authority has,
     by order or otherwise,  prevented or suspended the use of the Prospectus or
     any supplemental sales literature authorized by the Company, the MHC or the
     Bank for use in connection with the Offerings,  and no proceedings for such
     purposes are pending or, to the  knowledge of the Company,  the MHC and the
     Bank, threatened.

          (v) At the Closing Time referred to in Section 2, (i) the Company, the
     MHC and the Bank  will  have  completed  the  conditions  precedent  to the
     Offerings and the  establishment  of the Foundation in accordance  with the
     Plan,  the  applicable  OTS  Regulations  and all  other  applicable  laws,
     regulations,   decisions  and  orders,   including   all  material   terms,
     conditions,  requirements and provisions precedent to the Offerings imposed
     upon the  Company,  the MHC or the Bank by the  Commission,  the OTS or any
     other  regulatory  authority or Blue Sky authority,  other than those which
     the regulatory authority permits to be completed after the Offerings;  (ii)
     the  Offerings  and the  establishment  of the  Foundation  will  have been
     effected in the manner  described in the Prospectus and in accordance  with
     the Plan,  the OTS  Regulations  and all other  applicable  material  laws,
     regulations,  decisions and orders, including in compliance with all terms,
     conditions,  requirements and provisions precedent to the Offerings imposed
     upon the Company, the MHC and the Bank by the Commission, the OTS, the FDIC
     or any other  regulatory  or Blue Sky  authority.  The  Offerings and other
     transactions  contemplated  hereby do not and will not require any material
     consent,  approval,  authorization  or  permit  or  filing  with any  other
     governmental  agency or  regulatory  authority,  except as disclosed in the
     Prospectus.

          (vi)  Feldman  Financial  Advisors,  Inc.  (the  "Appraiser"),   which
     prepared the  estimated  pro forma market  valuation of the Common Stock as
     part of the Plan, has advised the Company,  the MHC and the Bank in writing
     that it  satisfies  all  requirements  for an  appraiser  set  forth in the
     Conversion  Regulations and any interpretations or guidelines issued by the
     OTS or its staff with respect thereto.

          (vii) Beard  Miller  Company LLP, the  independent  registered  public
     accounting  firm who audited and  reported  on the  consolidated  financial
     statements  and  supporting  schedules of the Company and its  subsidiaries
     included in the Registration  Statement,  have

                                       4
<PAGE>

     advised  the  Company,  the MHC  and the  Bank in  writing  that  they  are
     independent  public accountants within the meaning of the Code of Ethics of
     the American Institute of Certified Public Accountants (the "AICPA"),  that
     they are registered  with the Public  Company  Accounting  Oversight  Board
     ("PCAOB")  and such firm is, with respect to the  Company,  the MHC and the
     Bank, independent registered public accountants as required by, and are not
     in violation of the auditors  independence  requirements of, the Securities
     Act, the Securities Act Regulations and the OTS Regulations.

          (viii) The only direct subsidiary of the Company is the Bank; the only
     direct and indirect  subsidiaries  of the Bank are Roma Capital  Investment
     Corporation  and  General  Abstract  &  Title  Agency  (collectively,   the
     "Subsidiaries").  Except for the Subsidiaries, none of the Company, the MHC
     or the Bank,  directly  or  indirectly,  controls  any  other  corporation,
     limited liability company, partnership,  joint venture, association,  trust
     or other business organization.

          (ix) The consolidated  financial  statements and the related schedules
     and notes thereto included in the Registration Statement and the Prospectus
     present fairly the financial  position of the Company and its  subsidiaries
     at the dates indicated and the results of operations,  stockholders' equity
     and cash flows for the  periods  specified,  and comply as to form with the
     applicable  accounting  requirements  of the Securities Act Regulations and
     the  OTS  Regulations;  except  as  otherwise  stated  in the  Registration
     Statement and Prospectus,  said financial  statements have been prepared in
     conformity  with  generally  accepted  accounting  principles in the United
     States  applied on a consistent  basis;  and the  supporting  schedules and
     tables included in the Registration Statement and Prospectus present fairly
     the  information  required  to be  stated  therein.  The  other  financial,
     statistical  and pro forma  information  and related notes  included in the
     Prospectus  present  fairly  the  information  shown  therein  on  a  basis
     consistent with the audited and unaudited financial  statements included in
     the Prospectus,  and as to the pro forma adjustments,  the adjustments made
     therein have been consistently applied on the basis described therein.

          (x) Since the respective dates as of which information is given in the
     Registration  Statement  and the  Prospectus,  except as  otherwise  stated
     therein  (A) there has been no  material  adverse  change in the  financial
     condition,  results of  operations,  business  affairs or  prospects of the
     Company,  the  MHC,  the  Bank  and  the  Subsidiaries,  considered  as one
     enterprise,  whether or not arising in the ordinary  course of business and
     (B) except for transactions specifically referred to or contemplated in the
     Registration  Statement  and  Prospectus,  there have been no  transactions
     entered into by the Company,  the MHC or the Bank,  other than those in the
     ordinary  course  of  business  consistent  with past  practice,  which are
     material  with  respect  to  the  Company,   the  MHC,  the  Bank  and  the
     Subsidiaries,   considered   as   one   enterprise.   The   capitalization,
     liabilities,  assets,  properties and business of the Company,  the MHC and
     the Bank conform in all material respects to the descriptions  contained in
     the  Prospectus  and  none  of the  Company,  the MHC or the  Bank  has any
     material  liabilities  of any  kind,  contingent  or  otherwise,  except as
     disclosed in the Registration Statement or the Prospectus.

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<PAGE>

          (xi) The Company has been duly organized and is validly  existing as a
     stock holding  company  chartered  under the laws of the United States with
     full  corporate   power  and  authority  to  own,  lease  and  operate  its
     properties,  to conduct  its  business  as  described  in the  Registration
     Statement and the Prospectus, and to enter into and perform its obligations
     under this  Agreement and the  transactions  contemplated  hereby;  and the
     Company is duly  qualified  to transact  business  and is in good  standing
     under the laws of the State of New Jersey and in each other jurisdiction in
     which such qualification is required, whether by reason of the ownership or
     leasing of property or the conduct of business, except where the failure to
     so  qualify  would not have a  material  adverse  effect  on the  financial
     condition,  results of  operations,  business  affairs or  prospects of the
     Company,  the  MHC,  the  Bank  and  the  Subsidiaries,  considered  as one
     enterprise (a "Material Adverse Effect").

          (xii) Upon  completion of the Offerings  and the  contribution  of the
     Foundation   Shares  as  described  in  the  Prospectus,   the  issued  and
     outstanding  capital  stock of the Company  will be within the range as set
     forth in the  Prospectus  under  "Capitalization"  (except  for  subsequent
     issuances, if any, pursuant to reservations, agreements or employee benefit
     plans referred to in the Prospectus).  The authorized  capital stock of the
     Company consists of 45,000,000  shares of Common Stock and 5,000,000 shares
     of  preferred  stock,  par  value  $0.10  per  share,  and the  issued  and
     outstanding  capital stock of the Company at the date hereof is ____ shares
     of Common Stock, all of which are  beneficially  owned and of record by the
     MHC free and  clear  of any  security  interest,  mortgage,  pledge,  lien,
     encumbrance  or legal or  equitable  claim;  at the date  hereof and at the
     Closing Time,  the Securities  will have been duly  authorized for issuance
     and, when issued and delivered by the Company  pursuant to the Plan against
     payment of the consideration calculated as set forth in the Plan and stated
     on the cover page of the  Prospectus,  will be duly and validly  issued and
     fully paid and nonassessable;  the terms and provisions of the Common Stock
     and the  other  capital  stock of the  Company  conform  to all  statements
     relating thereto contained in the Prospectus; the certificates representing
     the shares of Common Stock will conform to the  requirements  of applicable
     law and  regulations;  and the issuance of the Securities is not subject to
     preemptive or other similar rights,  except for subscription rights granted
     pursuant to the Plan.

          (xiii) The MHC has been duly  organized  and is validly  existing as a
     mutual holding  company  chartered under the laws of the United States with
     full  corporate   power  and  authority  to  own,  lease  and  operate  its
     properties,  to conduct  its  business  as  described  in the  Registration
     Statement and the Prospectus, and to enter into and perform its obligations
     under this Agreement and the transactions  contemplated hereby; and the MHC
     is duly  qualified to transact  business and is in good standing  under the
     laws of the State of New  Jersey and in each  other  jurisdiction  in which
     such  qualification  is  required,  whether by reason of the  ownership  or
     leasing of property or the conduct of business, except where the failure to
     so qualify would not have a Material Adverse Effect.

          (xiv) The MHC is not authorized to issue capital stock. All holders of
     the savings, demand or other authorized accounts of the Bank are members of
     the MHC. As of the Closing Time  referred to in Section 2, the MHC will not
     own any equity securities or any equity interest in any business enterprise
     except as described in the Prospectus.

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<PAGE>

          (xv) The Bank has been duly  organized  and is validly  existing  as a
     savings bank chartered  under the laws of the United States State with full
     corporate power and authority to own, lease and operate its properties,  to
     conduct its  business as described in the  Registration  Statement  and the
     Prospectus,  and to enter  into and  perform  its  obligations  under  this
     Agreement and the transactions  contemplated  hereby;  and the Bank is duly
     qualified to transact  business and is in good  standing  under the laws of
     the  State of New  Jersey  and in each  other  jurisdiction  in which  such
     qualification is required, whether by reason of the ownership or leasing of
     property or the conduct of business, except where the failure to so qualify
     would not have a Material Adverse Effect.

          (xvi) The authorized  capital stock of the Bank consists of __,000,000
     shares of common stock, par value $___ per share (the "Bank Common Stock"),
     and the issued and outstanding  capital stock of the Bank is ____ shares of
     Bank Common Stock, all of which are owned beneficially and of record by the
     Company free and clear of any security interest,  mortgage,  pledge,  lien,
     encumbrance or legal or equitable  claim. All of the issued and outstanding
     capital  stock of the Bank has been duly  authorized,  validly  issued  and
     fully paid and  nonassessable  and has been issued in  compliance  with all
     federal  and state  securities  laws.  There are no  outstanding  warrants,
     options or rights of any kind to acquire additional shares of capital stock
     of the Bank.

          (xvii) The Company,  the MHC, the Bank and the Subsidiaries  have each
     obtained  all  licenses,  permits  and  other  governmental  authorizations
     currently required for the conduct of their respective  businesses,  except
     where the failure to obtain such  licenses,  permits or other  governmental
     authorizations would not have a Material Adverse Effect; all such licenses,
     permits and other governmental  authorizations are in full force and effect
     and the Company, the MHC, the Bank and the Subsidiaries are in all material
     respects in compliance therewith; none of the Company, the MHC, the Bank or
     any Subsidiary has received  notice of any proceeding or action relating to
     the revocation or Stock Issuance Application of any such license, permit or
     other governmental  authorization which, singly or in the aggregate, if the
     subject  of an  unfavorable  decision,  ruling  or  finding,  might  have a
     Material Adverse Effect.

          (xviii)  Each  Subsidiary  has  been  duly  organized  and is  validly
     existing  as  a  corporation  in  good  standing  under  the  laws  of  the
     jurisdiction of its  incorporation,  has full corporate power and authority
     to own,  lease and operate its  properties  and to conduct its  business as
     described  in the  Registration  Statement  and  Prospectus,  and  is  duly
     qualified  as a foreign  corporation  to transact  business  and is in good
     standing in each  jurisdiction  in which such  qualification  is  required,
     whether by reason of the ownership or leasing of property or the conduct of
     business,  except where the failure to so qualify would not have a Material
     Adverse  Effect;  the  activities  of  each  Subsidiary  are  permitted  to
     subsidiaries of a  Federally-chartered  savings bank, a Federally-chartered
     stock holding company and a  Federally-chartered  mutual holding company by
     the rules,  regulations,  resolutions  and practices of the OTS; all of the
     issued  and  outstanding  capital  stock of each  Subsidiary  has been duly
     authorized and validly issued, is fully paid and nonassessable and is owned
     by the Bank directly,  free and clear of any security  interest,  mortgage,
     pledge,  lien,  encumbrance

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<PAGE>

     or legal or equitable claim;  and there are no warrants,  options or rights
     of any kind to acquire shares of capital stock of any Subsidiary.

          (xix) The Bank is a member of the Federal  Home Loan Bank of New York;
     the  deposit  accounts  of the  Bank are  insured  by the  Federal  Deposit
     Insurance Corporation (the "FDIC") up to the applicable limits. The Bank is
     a  "qualified  thrift  lender"  within  the  meaning  of 12 U.S.C.  Section
     1467a(m).

          (xx) The Company, the MHC and the Bank have taken all corporate action
     necessary for them to execute,  deliver and perform this  Agreement and the
     transactions contemplated hereby, and this Agreement has been duly executed
     and delivered  by, and is the valid and binding  agreement of, the Company,
     the MHC and the Bank,  enforceable  against each of them in accordance with
     its terms, except as may be limited by bankruptcy, insolvency or other laws
     affecting the  enforceability of the rights of creditors  generally and the
     availability of equitable remedies.

          (xxi) No approval of any  regulatory  or  supervisory  or other public
     authority is required in connection with the execution and delivery of this
     Agreement and the issuance of both the Securities and the Foundation Shares
     that has not been  obtained  and a copy of which has been  delivered to the
     Agent, except as may be required under the "Blue Sky" or securities laws of
     various jurisdictions.

          (xxii)  None  of  the  Company,  the  MHC,  the  Bank  or  any  of the
     Subsidiaries   is  in  violation  of  their   respective   certificate   of
     incorporation,  organization  certificate,  articles  of  incorporation  or
     charter,  as the  case  may  be,  or  bylaws  or  other  written  corporate
     governance  requirements or guidelines;  and none of the Company,  the MHC,
     the  Bank or any of the  Subsidiaries  is in  default  (nor  has any  event
     occurred which,  with notice or lapse of time or both,  would  constitute a
     default) in the  performance  or observance of any  obligation,  agreement,
     covenant or condition contained in any contract, indenture,  mortgage, loan
     agreement,  note, lease or other instrument to which the Company,  the MHC,
     the  Bank or any of the  Subsidiaries  is a party  or by which it or any of
     them may be  bound,  or to  which  any of the  property  or  assets  of the
     Company,  the MHC, the Bank or any of the  Subsidiaries is subject,  except
     for such defaults that would not, individually or in the aggregate,  have a
     Material  Adverse  Effect;  and there are no  contracts or documents of the
     Company,  the MHC or the Bank which are required to be filed as exhibits to
     the Registration Statement or the Plan which have not been so filed.

          (xxiii) The execution,  delivery and performance of this Agreement and
     the consummation of the transactions  contemplated  herein,  have been duly
     authorized  by all necessary  corporate  action on the part of the Company,
     the MHC and the Bank, and do not and will not conflict with or constitute a
     breach of, or default under, or result in the creation or imposition of any
     lien, charge or encumbrance upon any property or assets of the Company, the
     MHC or the Bank  pursuant  to,  any  contract,  indenture,  mortgage,  loan
     agreement, note, lease or other instrument to which the Company, the MHC or
     the Bank is a party or by which it or any of them may be bound, or to which
     any of the  property  or  assets  of the  Company,  the MHC or the  Bank is
     subject,  except for such  conflicts,  breaches or

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<PAGE>

     defaults that would not, individually or in the aggregate,  have a Material
     Adverse  Effect;  nor will  such  action  result  in any  violation  of the
     provisions of the respective  charter or bylaws of the Company,  the MHC or
     the  Bank,   or  any   applicable   law,   administrative   regulation   or
     administrative or court decree.

          (xxiv) No labor  dispute with the  employees of the Company,  the MHC,
     the Bank or the  Subsidiaries  exists or, to the  knowledge of the Company,
     the MHC, the Bank or the Subsidiaries,  is imminent or threatened;  and the
     Company,  the MHC and the Bank are not aware of any existing or  threatened
     labor  disturbance  by the employees of any of its  principal  suppliers or
     contractors which might be expected to have a Material Adverse Effect.

          (xxv) Each of the Company,  the MHC, the Bank and the Subsidiaries has
     good and marketable  title to all properties and assets for which ownership
     is  material  to the  business  of the  Company,  the MHC,  the Bank or the
     Subsidiaries and to those properties and assets described in the Prospectus
     as owned by them,  free and clear of all liens,  charges,  encumbrances  or
     restrictions,  except such as are  described in the  Prospectus  or are not
     material in relation to the business of the  Company,  the MHC, the Bank or
     the Subsidiaries,  considered as one enterprise;  and all of the leases and
     subleases material to the business of the Company, the MHC, the Bank or the
     Subsidiaries under which the Company, the MHC, the Bank or the Subsidiaries
     hold properties, including those described in the Prospectus, are valid and
     binding  agreements of the Company,  the MHC, the Bank or the Subsidiaries,
     in full force and effect, enforceable in accordance with their terms except
     as may be limited by  bankruptcy,  insolvency  or other laws  affecting the
     enforceability of the rights of creditors generally and the availability of
     equitable remedies.

          (xxvi) None of the Company, the MHC or the Bank is in violation of any
     order or directive from the OTS, the FDIC, the Commission or any regulatory
     authority  to make any  material  change in the  method of  conducting  its
     respective  businesses;  the  Company,  the  MHC,  the Bank and each of the
     Subsidiaries  have  conducted and are  conducting  their  business so as to
     comply in all material respects with all applicable  statutes,  regulations
     and administrative and court decrees (including,  without  limitation,  all
     regulations,  decisions, directives and orders of the OTS, the FDIC and the
     Commission).  Neither  the  Company,  the  MHC,  the  Bank  nor  any of the
     Subsidiaries  is  subject  or is party to, or has  received  any  notice or
     advice that any of them may become  subject or party to, any  investigation
     with respect to any cease-and-desist order,  agreement,  consent agreement,
     memorandum  of  understanding  or  other  regulatory   enforcement  action,
     proceeding or order with or by, or is a party to any  commitment  letter or
     similar  undertaking  to, or is subject to any  directive by, or has been a
     recipient  of any  supervisory  letter  from,  or  has  adopted  any  board
     resolutions  at the request of, any  Regulatory  Agency (as defined  below)
     that  currently  restricts  the  conduct of their  business  or that in any
     manner  relates to their capital  adequacy,  their credit  policies,  their
     management or their business (each, a "Regulatory Agreement"),  nor has the
     Company,  the MHC, the Bank or any of the Subsidiaries  been advised by any
     Regulatory Agency that it is considering issuing or requesting the issuance
     of any such  Regulatory  Agreement;  and there is no unresolved  violation,
     criticism or exception by any Regulatory  Agency with respect to any report
     or statement relating to any examinations of the Company, the MHC, the Bank
     or any of the Subsidiaries which in the reasonable judgment of the

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     Company, the MHC or the Bank is expected to have a Material Adverse Effect,
     or which might  materially  and adversely  affect the  properties or assets
     thereof or which might adversely  affect the  consummation of the Offerings
     or the performance of this Agreement.  As used herein, the term "Regulatory
     Agency" means any federal or state agency  charged with the  supervision or
     regulation of depositary  institutions  or holding  companies of depositary
     institutions,  or  engaged  in  the  insurance  of  depositary  institution
     deposits,  or any  court,  administrative  agency  or  commission  or other
     governmental  agency,  authority or  instrumentality  having supervisory or
     regulatory  authority with respect to the Company, the MHC, the Bank or any
     of the Subsidiaries.

          (xxvii) There is no action,  suit or proceeding before or by any court
     or governmental  agency or body, domestic or foreign,  now pending,  or, to
     the knowledge of the Company, the MHC or the Bank,  threatened,  against or
     affecting  the  Company,  the  MHC or the  Bank  which  is  required  to be
     disclosed in the Registration  Statement (other than as disclosed therein),
     or which might have a Material  Adverse Effect,  or which might  materially
     and  adversely  affect the  properties  or assets  thereof,  or which might
     adversely affect the  consummation of the Offerings,  or the performance of
     this Agreement;  all pending legal or governmental proceedings to which the
     Company,