X0202 4 2006-01-03 0 0000946492 NATIONAL ATLANTIC HOLDINGS CORP NAHC 0001019973 HOVDE ERIC D 1826 JEFFERSON PLACE NW WASHINGTON DC 20036 0 0 1 0 Common Stock 2006-01-03 4 A 0 950 10.5 A 1453156 I See Footnote Common Stock 2006-01-11 4 A 0 4240 10.25 A 1453156 I See Footnote Common Stock 2006-01-11 4 A 0 15780 10.25 A 1453156 I See Footnote Common Stock 2006-01-11 4 A 0 24724 10.25 A 1453156 I See Footnote As of the date hereof, including the transactions reported herein, Eric D. Hovde is the beneficial owner (within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended) of 1,453,156 shares of common stock of National Atlantic Holdings Corporation (the Shares). The transactions reported herein, reflect one purchase of the Shares by Financial Institution Partners, Ltd. (950), one purchase of the Shares by Financial Institution Partners, L.P. (24,724), one purchase of the Shares by Financial Institution Partners III, L.P. (15,780), and one purchase of the Shares by Financial Institution Partners IV, L.P. (4,240). The beneficial ownership of these Shares is more fully set out in the following footnote. EDH owns 21,000 Shares directly; EDH is the managing member (MM) of Hovde Capital Limited IV LLC, the general partner to Financial Institution Partners IV, L.P., which owns 86,568 Shares; EDH is the MM of Hovde Capital, Ltd., the general partner to Financial Institution Partners III, L.P., which owns 421,013 Shares; EDH is the MM of Hovde Capital IV, LLC, the general partner to Financial Institution Partners, L.P., which owns 678,911 Shares; EDH is the MM to Hovde Capital Offshore LLC, the management company to Financial Institution Partners, Ltd., which owns 230,289 Shares; EDH is a trustee to The Hovde Financial, Inc. Profit Sharing Plan and Trust, which owns 5,125 Shares; EDH is a trustee to The Eric D. and Steven D. Hovde Foundation, which owns 10,250 Shares. 1,432,156 of the Shares reported herein as being beneficially owned by Eric D. Hovde have also been reported as being beneficially owned by Steven D. Hovde on a Form 4 of even date herewith. Eric D. Hovde 2006-01-13