INTERNATIONAL BUSINESS MACHS

Ticker: IBM CUSIP: 459200101 Class: COM

Phocas Financial Corp.'s Holding History (CIK: 0001356783)

Note: Option positions (PUT/CALL) are excluded.

Q4 2014

Shares 1,537 Value ($000) $247 Avg Close $100.47 Range $91.12 - $114.79

Q3 2014

Shares 1,537 Value ($000) $292 Avg Close $114.33 Range $108.62 - $117.41

Q2 2014

Shares 1,537 Value ($000) $279 Avg Close $112.28 Range $107.17 - $118.40

Q1 2014

Shares 1,537 Value ($000) $296 Avg Close $109.22 Range $101.79 - $116.27

Q4 2013

Shares 1,490 Value ($000) $279 Avg Close $106.40 Range $101.46 - $111.01

Q3 2013

Shares 29,583 Value ($000) $5,478 Avg Close $111.55 Range $106.48 - $117.56

Q2 2013

Shares 3,240 Value ($000) $619 Avg Close $118.94 Range $109.29 - $125.13

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	1,537	$247	$100.47	$91.12 - $114.79
Q3 2014	1,537	$292	$114.33	$108.62 - $117.41
Q2 2014	1,537	$279	$112.28	$107.17 - $118.40
Q1 2014	1,537	$296	$109.22	$101.79 - $116.27
Q4 2013	1,490	$279	$106.40	$101.46 - $111.01
Q3 2013	29,583	$5,478	$111.55	$106.48 - $117.56
Q2 2013	3,240	$619	$118.94	$109.29 - $125.13