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PRINTED 1/6/2016 <br />2015 CASH AND INVESTMENT ACTIVITY <br />BV <br />STATED <br />PRIN <br />SOLD/ <br />PRIN <br />CITY <br />MAT <br />SECURITY <br />BAL <br />PURCH MATURE <br />BAL <br />INVEST # <br />DATE <br />BROKER <br />DESCRIP <br />CUSIP <br />1/1/2015 <br />2015 2015 <br />12/31/2015 <br />PAR <br />YTM <br />160626C <br />10/1/2017 <br />Northland <br />WESTERN LAKE SUPER]( <br />958522-WS-9 <br />245,000.00 0.00 <br />245,000.00 <br />245,000 <br />1.35% <br />110913B <br />12/1/2016 <br />Northland <br />APPLETON MN TAXABLE <br />038051-KS-6 <br />110,000.00 <br />0.00 <br />110,000.00 <br />110,000 <br />2.00% <br />110114B <br />3/1/2016 <br />Northland <br />APPLETON WIS SCHOOL <br />038106-JN-1 <br />100,000.00 <br />100,000.00 <br />0.00 <br />100,00,0 <br />2.77% <br />130412 <br />2/1/2024 <br />Northland <br />BECKERMNTAX <br />075671LJ4 <br />50,000.00 <br />0.00 <br />50,000.00 <br />50,000 <br />2.75% <br />110310 <br />2/1/2020 <br />Northland <br />BROOKLYN CENTER ISD <br />113853-KG-9 <br />.285,000.00 <br />0.00 <br />285,000.00 <br />285,000 <br />4.65% <br />090420B <br />11/1/2015 <br />Northland <br />BURLINGTON VT PUB IM <br />022062-ML-3 <br />200,000.00 <br />200,000.00 <br />0.00 <br />200,000 <br />3.75% <br />120215B <br />6/1/2026 <br />Northland <br />CEDAR RAPIDS 10 TAX <br />150528-JU-2 <br />50,000.00 <br />0.00 <br />50,000.00 <br />50,000 <br />4.55% <br />120606B <br />6/1/2022 <br />Northland <br />CEDAR RAPIDS 10 TAX <br />150528-N2-6 <br />135,000.00 <br />0.00 <br />135,000.00 <br />135,000 <br />2.50% <br />120606A <br />6/l/2023 <br />Noilhland <br />CEDAR RAPIDS 10 TAX <br />150528-PA-9 <br />140,000.00 <br />0.00 <br />140,000.00 <br />140,000 <br />2.70% <br />130815A <br />12/1/2020 <br />Northland <br />CHASKA, MN TAX <br />161664-DY-0 <br />75,000.00 <br />0.00 <br />75,000.00 <br />75,000 <br />2.50% <br />130815B <br />12/1/2021 <br />Northland <br />CHASKA, MN TAX <br />161664-DZ-7 <br />75,000.00 <br />0.00 <br />75,000.00 <br />75,000 <br />2.75% <br />100223A <br />6/1/2016 <br />Northland <br />DAVENPORT IOWA TAXA <br />238388-FU-1 <br />335,000.00 <br />0.00 <br />335,000.00 <br />335,000 <br />3.25% <br />110301A <br />6/1/2015 <br />Northland <br />DES MOINES IA COMM C <br />250097-YS-5 <br />100,000.00 <br />100,000.00 <br />0.00 <br />100,000 <br />2,50% <br />131205 <br />12/28/2018 <br />Northland <br />FNMA <br />3136GO-RB-9 <br />500,000.00 <br />0.00 <br />500,000.00 <br />500,000 <br />1,38% <br />090914 <br />2/1/2015 <br />Northland <br />GRAND RAPIDS MN EQU, <br />386334-2L-9 <br />115,000.00 <br />115,000.00 <br />0.00 <br />115,000 <br />3,70% <br />110114A <br />2/1/2017 <br />Northland <br />HOPKINS ISD #270 <br />439881-HB-2 <br />100,000.00 <br />0.00 <br />100,000.00 <br />100,000 <br />2.75%. <br />1212116 <br />6/1/2015 <br />Northland <br />IOWA WESTERN COMM ( <br />462612-QK-1 <br />175,000.00 <br />175,000.00 <br />0.00 <br />175,000 <br />0.50% <br />121211C <br />6/1/2016 <br />Northland <br />IOWA WESTERN COMM ( <br />462616-QL-9 <br />100,000.00 <br />0.00 <br />100,000.00 <br />100,000 <br />0.65% <br />121228A <br />6/l/2017 <br />Northland <br />IOWA WESTERN COMM ( <br />462612-QM-7 <br />100,000.00 <br />0.00 <br />100,000.00 <br />100,000 <br />0,85% <br />081106 <br />6/l/2015 <br />Northland <br />KIRKWOOD COMM COLI <br />497595-VC-9 <br />245,000.00 <br />245,000.00 <br />0.00 <br />245,000 <br />5,50% <br />120321 <br />3/1/2022 <br />Northland <br />MADISION WI SCHOOL D <br />558495=KN-6 <br />500,000.00 <br />0.00 <br />500,000,00 <br />500,000 <br />2,50% <br />110208 <br />12/30/2015 <br />Northland <br />MCGREGOR ISD #004 <br />580705-GN-5 <br />95,000.00 <br />95,000,00 <br />0,00 <br />95,000 <br />2.35% <br />110203A <br />4/1/2017 <br />Noilhland <br />MEDFORD WIS SCHOOL 1 <br />58434T-DK-3 <br />40,000.00 <br />0.00 <br />40,000.00 <br />40,000 <br />2,75% <br />121228B <br />9/1/2023 <br />Northland <br />MIDDLETON WIS REFUN <br />596782-T6-7 <br />300,000.00 <br />0.00 <br />300,000.00 <br />300,000 <br />2.36% <br />120214B <br />9/1/2025 <br />Northland <br />MIDDLETON IVIS REFUN <br />596782-TJ-1 <br />315,000.00 <br />0.00 <br />315,000.00 <br />315,000 <br />2,85% <br />130702A <br />1/1/2019 <br />Northland <br />MINNETONKAISD#276 <br />604195-VW-4 <br />285,000.00 <br />0.00 <br />285,000.00 <br />285,000 <br />1.40% <br />130702B <br />I/l/2021 <br />Northland <br />MINNETONKA ISD #276 <br />604195-VY-0 <br />400,000.00 <br />0.00 <br />400,000.00 <br />400,000 <br />2.10% <br />120215A <br />1/1/2028 <br />Northland <br />MINNETONKA ISD #276 <br />604195-SB-4 <br />50,000.00 <br />0.00 <br />50,000.00 <br />50,000 <br />5.20% <br />130722 <br />2/1/2021 <br />Northland <br />MOUND MN TAXABLE <br />620535-W4-2 <br />95,000.00 <br />0.00 <br />95,000.00 <br />95,000 <br />2.00% <br />090715B <br />2/1/2015 <br />Northland <br />MOWER CTY MIN JAIL <br />624662-AJ-I <br />250,000.00 <br />250,000.00 <br />0.00 <br />250,000 <br />4.10% <br />100803A <br />2/l/2015 <br />Noilhland <br />NEW PRAGUE BAB <br />648159-TU-5 <br />60,000.00 <br />60,000.00 <br />0.00 <br />60,000 <br />2.65% <br />100803B <br />2/1/2018 <br />Northland <br />NEW PRAGUE BAB <br />648159-TX-9 <br />70,000,00 <br />0.00 <br />70,000.00 <br />70,000 <br />3.75% <br />100803C <br />2/1/2019 <br />Northland <br />NEW PRAGUE BAB <br />648159-TY-7 <br />45,000.00 <br />0.00 <br />45,000.00 <br />45,000 <br />4.00% <br />140117 <br />11/1/2019 <br />Northland <br />HONOLULU TAXABLE <br />438670-Q4-6 <br />275,000.00 <br />0.00 <br />275,000.00 <br />275,000 <br />1.84% <br />141205A <br />9/1/2018 <br />Northland <br />WYANDOTTE KANSAS SI <br />982696-QE-9 <br />125,000.00 <br />0.00 <br />125,000.00 <br />125,000 <br />1,93% <br />141104 <br />2/1/2022 <br />Northland <br />DULUTH MN TAXABLE <br />264438-65-5 <br />150,000.00 <br />0.00 <br />150,000.00 <br />150,000 <br />3.00% <br />141006 <br />6/1/2020 <br />Northland <br />NORTHEAST IOWA COMI <br />664214-JQ-7 <br />320,000.00 <br />0.00 <br />320,000.00 <br />320,000 <br />1.90% <br />140320A <br />3/1/2019 <br />Northland <br />HAWLEY MN SCHOOL Dl <br />420416-EZ-8 <br />390,000.00 <br />0.00 <br />390,000.00 <br />390,000 <br />1.85% <br />140320B <br />3/1/2016 <br />Northland <br />HAWLEY MN SCHOOL DI <br />420416-E-5 <br />180,000.00 <br />0.00 <br />180,000.00 <br />180,000 <br />0.60% <br />140730A <br />6/1/2019 <br />Northland <br />DES MOINES IA TAXABL <br />25009X-GB-5 <br />115,000.00 <br />0.00 <br />115,000.00 <br />115,000 <br />2.00% <br />140730B <br />6/1/2020 <br />Northland <br />DES MOINES IA TAXABL <br />25009X-GC-3 <br />145,000.00 <br />0.00 <br />145,000.00 <br />145,000 <br />2.10% <br />140326 <br />9/26/2017 <br />Northland <br />FHLB <br />313OA15P9 <br />350,000.00 <br />0.00 <br />350,000,00 <br />350,000 <br />1.00% <br />140502 <br />2/15/2020 <br />Northland <br />COLLINGSWOOD NJ TAX <br />194756-PQ-9 <br />145,000.00 <br />0.00 <br />145,000.00 <br />145,000 <br />3.00% <br />140620 <br />12/1/2020 <br />Noilhland <br />CELINA OHIO SCHOOL D <br />151069-FD-8 <br />300,000.00 <br />0.00 <br />300,000.00 <br />300,000 <br />2.13% <br />100803D <br />2/1/2020 <br />Northland <br />NEW PRAGUE BAB <br />648159-TZ-4 <br />70,000.00 <br />0.00 <br />70,000.00 <br />70,000 <br />4.25% <br />090206 <br />2/1/2015 <br />Northland <br />NORTH ST PAUL MAPLES <br />6621406D9 <br />355,000.00 <br />355,000.00 <br />0.00 <br />355,000 <br />3.70% <br />111031 <br />6/1/2018 <br />Northland <br />RACINE WIS TAXABLE <br />750021-6D-4 <br />755,000.00 <br />0.00 <br />755,000.00 <br />755,000 <br />2.10% <br />130624A <br />2/1/2023 <br />Northland <br />RAMSEY COUNTY TAXA <br />751622-HH-7 <br />595,000.00 <br />0.00 <br />595,000.00 <br />595,000 <br />2,75°/ <br />130624B <br />2/1/2022 <br />Northland <br />RAMSEY COUNTY TAXA <br />751622-HG-9 <br />285,000.00 <br />0.00 <br />285,000.00 <br />285,000 <br />2.50% <br />120308A <br />12/1/2020 <br />Northland <br />SHOREWOOD WIS TAX <br />825230-KU-8 <br />150,000.00 <br />0.00 <br />150,000,00 <br />150,000 <br />2.50%' <br />120308B <br />12/l/2022 <br />Northland <br />SHOREWOOD WIS TAX <br />825230-KW-4 <br />150,000.00 <br />0.00 <br />150,000.00 <br />150,000 <br />2.80% <br />120308C <br />12/1/2027 <br />Northland <br />SHOREWOOD WIS TAX <br />825230-LB-9 <br />225,000.00 <br />0.00 <br />225,000.00 <br />225,000 <br />3.25% <br />120308D <br />12/1/2028 <br />Northland <br />SHOREWOOD WIS TAX <br />825230-LC-7 <br />465,000.00 <br />0.00 <br />465,000.00 <br />465,000 <br />3.15% <br />120214B <br />4/1/2017 <br />Northland <br />ST FRANCIS ISD#15 <br />789466-PU-7 <br />250,000.00 <br />0.00 <br />250,000.00 <br />250,000 <br />4.40% <br />090217C <br />3/1/2016 <br />Northland <br />STILLWATER ISC #834 <br />860758-QA-2 <br />245,000.00 <br />0.00 <br />245,000.00 <br />245,000 <br />4.20% <br />110608 <br />2/1/2019 <br />Northland <br />WADENA MN BAB <br />930217-JD-7 <br />95,000.00 <br />0.00 <br />95,000.00 <br />95,000 <br />3.94% <br />130624C <br />6/1/2018 <br />Northland <br />WATERLOO IOWA TAXA <br />941647-NZ-8 <br />345,000.00 <br />0.00 <br />345,000.00 <br />345,000 <br />2.00% <br />110714B <br />10/1/2016 <br />Northland <br />WAUWATO WIS REFUND <br />943504-R2-8 <br />300,000.00 <br />300,000,00 <br />0.00 <br />300,000 <br />1.90% <br />090528A <br />2/1/2015 <br />Noi4hland <br />WAYZATA ISD #284 <br />946813-TF-9 <br />500,000.00 <br />500,000.00 <br />0.00 <br />500,000 <br />3.15% <br />090310 <br />4/1/2015 <br />Northland <br />WEST ALLIS WIS COMM. <br />951172-7R-0 <br />340,000.00 <br />340,000.00 <br />0.00 <br />340,000 <br />3.75% <br />120215C <br />10/1/2019 <br />Northland <br />WESTERN LAKE SUPERB <br />958522-WU-4 <br />100,000.00 <br />0.00 <br />100,000.00 <br />100,000 <br />3.15% <br />110816A <br />10/1/2016 <br />Northland <br />WESTIN LAKE SUPERIOR <br />958522-WR-1 <br />350,000.00 <br />0.00 <br />350,000.00 <br />350,000 <br />2.10% <br />110816B <br />10/l/2017 <br />Northland <br />WESTIN LAKE SUPERIOR <br />958522-WS-9 <br />350,000.00 <br />0.00 <br />350,000.00 <br />350,000 <br />2.50% <br />110201B <br />6/1/2016 <br />Northland <br />WINDSOR HTS IOWA TA; <br />973602-KT-1 <br />130,000.00 <br />0.00 <br />130,000.00 <br />130,000 <br />2.30% <br />2014 Investment <br />15,500,000.00 <br />150212 <br />4/30/2018 <br />UBS <br />FNMA <br />3136GILB3 <br />300,000.00 300,000.00 <br />0.00 <br />300,000 <br />0.75% <br />151207 <br />12/1/2020 <br />UBS <br />SACRAMENTO TAXABLE <br />78606013138 <br />300,000.00 0.00 <br />300,000.00 <br />300,000 <br />3,00% <br />151222 <br />7/1/2024 <br />UBS <br />CITY OF INDUSTRY CA T <br />456560WG2 <br />300,000.00 0.00 <br />300,000.00 <br />300,000 <br />3,13% <br />131121 <br />4/30/2018 <br />UBS <br />FNMA <br />3136G1LB3 <br />500,000.00 <br />500,000.00 <br />0.00 <br />500,000 <br />1.33% <br />120817A <br />5/1/2018 <br />UBS <br />NYC-TAXABLE <br />64971QTU7 <br />500,000.00 <br />0.00 <br />500,000.00 <br />500,000 <br />1.60% <br />130611 <br />5/21/2018 <br />UBS <br />FNMA <br />3135GOXDO <br />750,000.00 <br />0.00 <br />750,000.00 <br />750,000 <br />1.29% <br />PRINTED 1/6/2016 <br />