AF Financial Group, Inc. is a federally chartered thrift holding company that owns 100% of the common stock of AF Bank (the Bank), AF Insurance Services, Inc. (an independent insurance agency) and Ashe Lane Capital Trust (a business trust). The Bank is a federally chartered stock savings bank and conducts business from its main office located in West Jefferson, North Carolina, with branches in Boone, Jefferson, Sparta, Warrensville and West Jefferson, North Carolina. AF Bank operates seven branches throughout its expanded market area, and offers a diversified product line by engaging in mortgage, non-residential mortgage and non-mortgage lending. AF Bank has a third-party relationship with LaSalle Street Securities. This relationship allows it to offer an array of investment products, including fixed-rate and variable annuities and mutual funds. This third-party relationship operates as a division of AF Bank under the name AF Investments.