Shareholder's Report

Assets (In thousands) Sept 30, 2010Sept 30, 2011
Cash and due from banks $14,754$13,987
Interest bearing deposits in banks$30,503$16,668
Federal funds sold$10,925$7,749
Total cash and cash equivalents$56,182$38,404
Securities - available for sale$256,189$320,737
Loans, net$539,809$500,326
Premises and equipment$17,247$17,035
Goodwill$4,074$4,074
Other assets$26,611$27,146
Total Assets$900,112$907,722
Liabilities (In thousands)Sept 30, 2010Sept 30, 2011
Deposits
Non-interest bearing$65,767$75,511
Interest bearing$647,552$644,074
Total deposits$713,319$719,585
Securities - sold under agreement to repurchase$48,556$53,207
Long term debt$34,999$21,710
Accrued expenses and other liabilities$6,492$9,468
Total Liabilities$803,366$803,970
Stockholder's EquitySept 30, 2010Sept 30, 2011
Common Stock, no par value - 6,500,000 shares authorized; 5,200,000 shares issued.$12,677$12,677
Treasury stock - 478,663 shares for year 2011: 465,326 shares for year 2010. ($9,441)($9,809)
Unearned stock awards - 29,715 for year 2011; 27,675 for year 2010. ($582)($564)
Retained earnings$90,275$94,502
Accumulated other comprehensive income$3,817$6,946
Total Stockholder's Equity$96,746$103,752
Total Liabilities and Stockholder's Equity$900,112$907,722
Income StatementDec. 30, 2010March 31, 2010June 30, 2010Sept. 30, 2011
Summary of Income
Interest Income		$9,675$9,655$8,844$8,855
Interest Expense
Net Interest Income		$2,457 $7,218$2,221 $7,434$2,109 $6,735$1,991 $6,864
Provision for loan losses$451$772$657$93
Net interest income after provision for loan losses$6,767$6,662$6,078$6,771
Other Income (expense)($3,749)($4,235)($3,885)($3,971)
Income before Federal Income Taxes$3,018$2,427$2,193$2,800
Income Taxes$834$446$626$719
Net Income$2,184$1,981$1,567$2,081
Earnings per common share$0.46$0.42$0.33$0.44
Average common shares outstanding4,710,0984,693,0804,686,0084,687,169

This statement has not been reviewed or confirmed for accuracy or relevance by the Federal Deposit Insurance Corporation