Prospectus excerpt:  The 5.10% Non-Cumulative First Preferred Shares, Series L (the ‘‘Series L First Preferred Shares’’) will be entitled to fixed non-cumulative preferential cash dividends, if, as and when declared by the Board of Directors, at a rate equal to $1.2750 per share per annum. The initial dividend, if declared, will be payable October 31, 2006, and will be $0.3074 per share, based upon an anticipated issue date of August 4, 2006. Thereafter, dividends will be payable quarterly at a rate of $0.31875 per share. Certain provisions relating to the Series L First Preferred Shares are summarized under ‘‘Details of the Offering’’.

On and after October 31, 2011, Power Financial Corporation (‘‘Power Financial’’ or the ‘‘Corporation’’) may, on not less than 30 nor more than 60 days’ notice, redeem for cash the Series L First Preferred Shares in whole or in part, at the Corporation’s option, at $26.00 per share if redeemed prior to October 31, 2012, $25.75 if redeemed on or after October 31, 2012 and prior to October 31, 2013, $25.50 if redeemed on or after October 31, 2013 and prior to October 31, 2014, $25.25 if redeemed on or after October 31, 2014 and prior to October 31, 2015 and $25.00 if redeemed on or after October 31, 2015, in each case together with all declared and unpaid dividends to but excluding the date of redemption. See ‘‘Details of the Offering’’.