Board of Governors of the Federal Reserve System

FRY-8 0MB Number 7100-0297 Approval expires November 30, 2019 Page 1 of2

Annual Report of Holding Companies-FR Y-6

Report at the close of business as of the end of fiscal year This Report is required by law: Section 5(c}(1)(A) of the Bank Holding Company Act (12 U.S.C. § 1844(c)(1)(A}); sections B(a)

This report form is to be filed by all top-tier bank holding compa-nies, top-tier savings and loan holding companies, and U.S. inter-mediate holdlng companies organized under U.S. law, and by any foreign banking organization that does not meet the require-ments of and is not treated as a qualifying foreign banking orga-nization under Section 211.23 of Regulation K (12 C.F.R. § 211.23). (See page one of the general instructions for more detail of who must file.) The Federal Reserve may not conduct or spon-sor, and an organization (or a person) is not required to respond to, an information collection unless it displays a currently valid 0MB control number.

and 13(a) of the International Banking Act (12 U.S.C. §§ 3106(a) and 3108(a}); sections 11(a)(1), 25, and 25A of the Federal Reserve Act (12 U.S.C. §§ 248(a)(1}, 602, and 611a); and sec-tions 113, 165,312,618, and 809 of the Dodd-Frank Act (12 U.S.C. §§ 5361, 5365, 5412, 1850a(c)(1), and 5468(b)(1)). Return to the appropriate Federal Reserve Bank the original and the number of copies specified.

NOTE: The Annual Report of Holding Companies must be signed by one director of the top-tier holding company. This Individual should also be a senior official of the top-tier holding company. In the event that the top-tier holding company does not have an individual who is a senior official and Is also a director, the chairman of the board must sign the report. If the holding company is an ESOP/ESOT formed as a corporation or is an LLC, see the General Instructions for the authorized Individual who must sign the report. I, D. Phil Polhill

Name of the Holding Company Dlreetor and Offielal

Chief Financial Officer Tltle of the Holding Company Director and Official

attest that the Annual Report of Holding Campanlas (Including the supporting attachments) for this report date has been pre-pared in conformance with the instructions issued by the Federal Reserve System and are true and correct to the best of my knowledge and belief.

With respect to information regarding individuals contained in this report, the Reporter certifies that It has the authority ta provide this intonnation ta the Federal Reserve. The Reporter also certifies that it has the authority, on behaff of each Individual, ta consent or object to public release of Information regarding that individual. The Federal Reserve may assume, in the absence of a request for confidential treatment submitted in accordance with the Board's "Rules Regarding Avallablllty of lnfannatlan," 12 C.F.R. Part 261, that the Reporter ilDJJ. individual consen o f Ublic release of all "1_.tJMsln th o ~ emin at · 'cJ' dual.

Date of Signature

For holding companies l1Dl registered with the SEC-Indicate status of Annual Report to Shareholders: IEI is Included with the FR Y-6 report D will be sent under separate cover D Is not prepared

For Federal Reserve Bank Use Only

RSSDID C.I.

Date of Report (top-tier holding company's fiscal year-end): December 31, 2018 Month/ Day/ Year

NIA Reporter's Legal Entity Identifier (LEI) (20-Character LEI Code)

Reporter's Name, Street, and Mailing Address

Legal Title of Holding Company

PO Box467 (Malling Addresa of the Holding Company) Street/ P.O. Box

Louisville GA ___ _304_ 3_4 __ _ City State Zip Code

3617 Walton Wa Extension, Augusta, GA 30909 Physlc:al Location (If different from mailing address)

Person to whom questions about this report should be directed: Jennifer Herring Controller Name

--TI-Ue _________ _

4 78-625-2000 ext. 269 Area Code/- Phone Number/ Extension

478-625-2008 Area Code/ FAX Number

jen nif er. herring@qnbtrust. bank E-mail Address

N/A Address (URL) for the Holding Company's web page

~l~:e!~~n:~~~~!1:~t-~~~~~~ ~~~ ~~~I-~~- ~-f· .. r::::rn In accordance with the General Instructions for this report (check only one),

1. a Jetter Justifying this request Is being provided along with the report............................................ .. . D

2. a letter Justifying this request has been provided separately . . . D NOTE: Information for which confidential treatment is being requested

must be provided separately and labeled as "confidential.•

Public reporting burden for this JnformaUon collec:llon Is estimated lo va,y from 1.3 lo 101 hOura per response, with an everege of 5.50 hours per response. Including lime to gather and malnlaln data In the required form and to review lnslnlctlona and completa the Information collection. Send comments regarding this burden estimate or any other aspect of this collecllon of Information, Including suggestions for reducing this burden to: Secretary, Board of Govamora of the Federal Reserve Syslem, 20th and C Streets, NW, WBshlngton, DC 20551, and lo the Office of Management and Budget, Paperwortt Reduction Project (7100-0297). Wa&hlnglon, DC 20503. 0312018

Annual Report of Bank Holding Companies FR Y-6 The Queensborough Company December 31, 2018

Report Item 1: Annual Report to Shareholders

1. The annual report is included.

Report Item 2: Organization Chart

1

*

*

100%

Queensborough Capital Trust II

LEIN/A

Louisville, Georgia/USA

USA Trust

State of Incorporation-NIA

The Queensborough Company

LEIN/A

Augusta, Georgia/USA

Incorporated in Georgia

* *

* *

* *

100%

Queensborough National Bank

& Trust Company LEl-254900C2QXQ435D8TY78

Louisville, Georgia/USA

USA National Bank

State of Incorporation-NIA

Report Item 3: Shareholders (all common shares)

la lb

Estate of Wayne Battle USA

Rebecca Battle

Wadley, GA, USA

Estate of Lillian A. Easterlin USA

Estate of William Easterlin, Jr.

Louisville, GA, USA

William F. Easterlin, Ill USA Louisville, GA

USA

Robert Brian Lewis USA

Wrens, GA I

USA

,,. N/A I"

*

* 100%

Queensborough Capital Trust Ill

LEIN/A

Louisville, GA/USA

USA Trust

State of Incorporation-NIA

le

80,605

6.03%

189,895 14.21%

81,828

6.10%

81,345

6.09%

I''

Results: A list of branches for your depository institution:  QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY (ID_RSSD: 960935).This depository institution is held by  QUEENSBOROUGH COMPANY, THE (1130904) of AUGUSTA, GA.The data are as of 12/31/2018. Data reflects information that was received and processed through   01/06/2019.

Reconciliation and Verification Steps1. In the Data Action column of each branch row, enter one or more of the actions specified below2. If required, enter the date in the  Effective Date column

ActionsOK: If the branch information is correct, enter  'OK'  in the Data Action column.Change: If the branch information is incorrect or incomplete, revise the data, enter  'Change'  in the Data Action column and the date when this information first became valid in the  Effective Date column.Close: If a branch listed was sold or closed, enter  'Close'  in the Data Action column and the sale or closure date in the  Effective Date column.Delete: If a branch listed was never owned by this depository institution, enter  'Delete'  in the Data Action column.Add: If a reportable branch is missing, insert a row, add the branch data, and enter  'Add'  in the Data Action column and the opening or acquisition date in the  Effective Date column.

If printing this list, you may need to adjust your page setup in MS Excel. Try using landscape orientation, page scaling, and/or legal sized paper.

Submission ProcedureWhen you are finished, send a saved copy to your FRB contact.  See the detailed instructions on this site for more information.If you are e‐mailing this to your FRB contact, put your institution name, city and state in the subject line of the e‐mail.

Note:To satisfy the FR Y‐10 reporting requirements, you must also submit FR Y‐10 Domestic Branch Schedules for each branch with a  Data Action of Change, Close, Delete, or Add.The FR Y‐10 report may be submitted in a hardcopy format or via the FR Y‐10 Online application ‐ https://y10online.federalreserve.gov.

* FDIC UNINUM, Office Number, and ID_RSSD columns are for reference only.  Verification of these values is not required.

Data Action Effective Date Branch Service Type Branch ID_RSSD* Popular Name Street Address City State Zip Code County Country FDIC UNINUM* Office Number* Head Office Head Office ID_RSSD* CommentsOK Full Service (Head Office) 960935 QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY      113 EAST BROAD STREET                      LOUISVILLE         GA 30434      JEFFERSON         UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 3448096 ENTERPRISE MILL BRANCH                                                            1450 GREENE STREET, SUITE 150        AUGUSTA           GA 30901      RICHMOND        UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 2998222 MARTINEZ BRANCH                                                                         4226 COLUMBIA ROAD                          AUGUSTA           GA 30907      COLUMBIA         UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 3939437 WALTON WAY EXTENSION BRANCH                                            3617 WALTON WAY EXTENSION          AUGUSTA           GA 30909      RICHMOND        UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 3266366 EVANS BRANCH                                                                                4321 WASHINGTON ROAD                   EVANS                 GA 30809      COLUMBIA         UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 3144473 GROVETOWN BRANCH                                                                   5049 WRIGHTSBORO ROAD                  GROVETOWN    GA 30813      COLUMBIA         UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 3228225 TOBACCO ROAD BRANCH                                                              2524 TOBACCO ROAD                            HEPHZIBAH        GA 30815      RICHMOND        UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 1189779 US 1 BY‐PASS BRANCH                                                                    HWY 24 AND US 1                                   LOUISVILLE         GA 30434      JEFFERSON         UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 3441903 FURY'S FERRY BRANCH                                                                   421 FURY'S FERRY ROAD                       MARTINEZ          GA 30907      COLUMBIA         UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 3034891 METTER BRANCH                                                                             24‐28 NORTH BROAD STREET              METTER              GA 30439      CANDLER            UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 799331 MIDVILLE BRANCH                                                                           145 SOUTH JONES STREET                    MIDVILLE            GA 30441      BURKE                 UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 615936 MILLEN BRANCH                                                                              311 EAST WINTHROP AVENUE             MILLEN               GA 30442      JENKINS              UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 3443505 RINCON BRANCH                                                                             597 SOUTH COLUMBIA AVENUE          RINCON               GA 31326      EFFINGHAM       UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 435639 SANDERSVILLE BRANCH                                                                 202 NORTH HARRIS STREET                  SANDERSVILLE   GA 31082      WASHINGTON   UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 3732816 SAVANNAH BRANCH                                                                       216 US HWY 80 WEST                            SAVANNAH        GA 31408      CHATHAM          UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 3557907 SAVANNAH BRANCH                                                                       7393 HODGSON MEMORIAL DRIVE     SAVANNAH        GA 31406      CHATHAM          UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 3732825 STATESBORO BRANCH                                                                    201 SOUTH MAIN STREET                     STATESBORO     GA 30458      BULLOCH            UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 2764744 SWAINSBORO DIVISION BRANCH                                                 648 SOUTH MAIN STREET                     SWAINSBORO    GA 30401      EMANUEL          UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 2803250 SYLVANIA BRANCH                                                                          301 MIMS ROAD                                     SYLVANIA           GA 30467      SCREVEN            UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 2739902 THOMSON DIVISION BRANCH                                                       549 WEST HILL STREET                          THOMSON          GA 30824      WASHINGTON   UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 509035 WADLEY BRANCH                                                                            25 NORTH MAIN STREET                       WADLEY              GA 30477      JEFFERSON         UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 1408685 WAYNESBORO BRANCH                                                                 721 LIBERTY ST                                        WAYNESBORO   GA 30830      BURKE                 UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935OK Full Service 1837566 WRENS FACILITY                                                                              739 NORTH MAIN STREET                     WRENS                GA 30833      JEFFERSON         UNITED STATES   Not Required Not Required QUEENSBOROUGH NATIONAL BANK & TRUST COMPANY       960935

Report Item 4: Insiders

1 2 3a 3b 3c 4a 4b 4C Est. of Lillian A. Eastenin Retired Principal N/A N/A 14.21 N/A None

Louisville, GA Shareholder USA

Louisa Abbot Superior Ct. Director N/A N/A 0.17 N/A None Savannah, GA Judge

USA

W. Abbot Easterlin Physicians Director Director, Queensborough Director, Louisville 2.92 N/A None

Augusta,GA Assistant National Bank & Trust Co. Storage & Loan USA

W.F. Easterlln, Ill N/A Chairman, CEO, President.CEO, CEO and Director Louisville 6.1 N/A None Looisvllle, GA Director Director, Queensborough Storage & Loan Co.

USA National Bank & Trust Co.

ThomasW. Jones CPA Director Director Queensborough Managing Director 0.91 N/A 40%- Jones, Jones, Davis and Augusta, Ga Public Accounting National Bank & Trust Co. Jones, Jones, Davis and Associates, CPA, PC

USA Associates, CPA, PC

Sam S. Pennington Farmer Director Director Queensborough President, Pennington 0.72 N/A 100" Pennington Farms, Inc. Matthews, GA National Bank & Trust Co. Farms, Inc. & Director

USA Louisville Storage & Loan

D. Phillips Polhlll N/A CFO,VP CFO,VP, Director Director, CFO 0.78 N/A None

Loulsville, GA Director Queensborough Louisville Storage & USA National Bank & Trust Co. Loan Co., Inc.

Gretchen B. Caughman, PhD Provost Director Director Queens borough N/A 0.01 N/A N/A Aiken,SC National Bank & Trust Co.

USA

1 2 3a 3b 3c 4a 4b 4c

Robert J. Pollock President Director Director Queensborough Pres. Pollock Office 0.39 N/A 52% Pollock Office Machine Co. Augusta, GA National Bank & Trust Co. Machine Co. & Pres. Pollock 100% Pollock Financial SeNices

USA Financial SeNices

J. Thomas Battle President Director Director Queensborough President Battle Lumber Co. & 1.92 N/A 5256 Owner Battle Lumber Co. Wadley,GA National Bank & Trust Co. Battle Lumber International 34% Owner Battle Lumber International

USA

LJ. Bowles, Ill Timber Director Director Queensborough President B & H Land & Tmber, 1.82 N/A 100% Owner B & H Land & Timber Inc. Louisville, GA Business Owner National Bank & Trust Co. Bowles Backhoe, Bowles Timber 100% Owner Bowles Backhoe Inc.

USA 100% Owner Bowles Timber UC

James B. Polhill, IV, M.D. Retired Director Director Queensborough N/A 0.38 N/A N/A St. Simons Island, GA National Bank & Trust Co.

USA

Edith W. Pundt Retired Director Director Queensborough N/A 2.67 N/A N/A Wadley.GA National Bank & Trust Co.

USA

Charles E. Smith, Jr. Farmer Director Director Queensborough .President-Deer Ridge Farms & 0.38 N/A 50% Owner-Deer Ridge Farms Wadley,GA National Bank & Trust Co. River Ridge Farms 50% Owner-River Ridge Farms

USA

W. Jeffrey Weichsel Retired Director Director Queensborough N/A 0.1s N/A N/A Savannah, GA National Bank & Trust Co.

USA

Julie Evans NA Corporate Corporate Secretary, N/A 0.08 N/A 50% RJ Farms, UC Louisville, GA secretary Queensborough National

USA Bank & Trust Co.

1 2 3a 3b 3c 4a 4b 4c Charles T. Jordan Realtor, RE Director Director Queensborough Partner: 0.03 N/A 50% Henbell Dublin HFT, UC

Augusta, GA Agency Owner National Bank & Trust Co. Henbell Dublin HFT, UC 50% Henbell Monte Sano, UC USA Henbell Monte Sano, UC 50% Henbell McDonough HFT, UC

Henbell McDonough HFT, LLC SO% Henbell Sanford HFT, LLC Henbell Sanford HFT, LLC 50% Hen bell Properties, UC Henbell Properties, LLC 50% Henbell Statesboro HFT, UC

Henbell Statesboro HFT, LLC 50% Henbell Vidalia HFT, LLC Henbell Vidalia HFT, UC 50% Henbell Vidalia #2, UC Henbell Vidalia #2, U.C 50% Henbell Walton Way ln11., UC

Henbell Walton Way Inv., LLC 50% Jordan Trotter Realty, LLC Jordan Trotter Realty, UC 33%JTT North Augusta, LLC

ITT North Augusta, LLC 33% South Augusta Investors, LLC South Augusta Investors, LLC 25% Grovetown Medical Office Inv., LLC

Grovetown Medical Office Inv., LLC SO% Jordan Trotter Asset Mgmt., LLC Jordan Trotter Asset Mgmt., UC 50% Henbell Broad Street

Henbell Broad Street

FR Y-6 Cover PageReport Item 2a: Organization ChartReport Item 3: ShareholdersReport Item 2b: Domestic Branch ListingReport Item 4: InsidersReport Item 4: Insiders (cont'd)Report Item 4: Insiders (cont'd)