Shareholder's Report

AssetsJune 30, 2008June 30, 2009
Cash and due from banks$21,130$13,346
Interest bearing deposits in banks$0$6,680
Federal funds sold$732$732
Total cash and cash equivalents$21,862$20,758
Securities - available for sale$192,452$187,594
Loans, net$546,608$554,374
Premises and equipment$17,181$16,388
Goodwill$4,074$4,074
Other assets$21,594$21,257
Total Assets$803,771$804,445
LiabilitiesJune 30, 2008June 30, 2009
Deposits
Non-interest bearing$59,243$56,551
Interest bearing$555,187$570,100
Total deposits$614,430$626,651
Securities - sold under agreement to repurchase$51,235$44,681
Long term debt$43,628$34,482
Accrued expenses and other liabilities$6,100$7,616
Total Liabilities$715,393$713,430
Stockholder's EquityJune 30, 2008June 30, 2009
Common Stock, no par value - 6,500,000 shares authorized; 5,200,000 shares issued.$12,677$12,677
Treasury stock - 447,551 shares for year 2009; 346,750 shares for year 2008.($7,249)($9,290)
Unearned stock awards - 23,225 for year 2009; 16,995 for year 2008.($386)($495)
Retained earnings$83,474$86,288
Accumulated other comprehensive income($138)$1,835
Total Stockholder's Equity$88,378$91,015
Total Liabilities and Stockholder's Equity$803,771$804,445
Total Liabilities and Stockholders' EquityDec. 31 2008Mar. 31 2009June 30 2009Sept. 30 2009
Summary of Income
Interest Income		$10,663$10,376$10,459$10,081
Interest Expense
Net Interest Income		$3,757
$6,906		$3,474
$6,902		$3,427
$7,032		$3,221
$6,860
Provision for loan losses$1,305$659$1,079$1,433
Net interest income after provision for loan losses$5,601$6,243$5,953$5,427
Other Income (expense)$3,840$3,880$4,013$3,737
Income before Federal Income Taxes$1,761$2,363$1,940$1,690
Income Taxes$428$633$536$414
Net Income$1,333$1,730$1,404$1,276
Earnings per common share$0.28$0.36$0.30$0.27
Average common shares outstanding$4,778,681$4,756,389$4,742,910$4,731,841

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