Shareholder's Report

AssetsDec 31, 2008Dec 31, 2009
Cash and due from banks$19,148$19,343
Interest bearing deposits in banks$0$9,348
Federal funds sold$1,739$4,957
Total cash and cash equivalents$20,887$33,648
Securities - available for sale$182,159$211,729
Loans, net$562,336$563,911
Premises and equipment$16,806$16,053
Goodwill$4,074$4,074
Other assets$19,467$24,445
Total Assets$805,729$853,860
LiabilitiesDec 31, 2008Dec 31, 2009
Deposits
Non-interest bearing$62,582$65,302
Interest bearing$553,150$611,142
Total deposits$615,732$676,444
Securities - sold under agreement to repurchase$48,214$43,257
Long term debt$45,635$34,199
Accrued expenses and other liabilities$5,601$6,376
Total Liabilities$715,182$760,276
Stockholder's EquityDec 31, 2008Dec 31, 2009
Common Stock, no par value - 6,500,000 shares authorized; 5,200,000 shares issued.$12,677$12,677
Treasury stock - 437,551 shares for year 2009: 418, 294 shares for year 2008. ($8,727)($9,082)
Unearned stock awards - 27,775 for year 2009; 23,525 for year 2008. ($503)($573)
Retained earnings$84,864$88,048
Accumulated other comprehensive income($2,236)$2,514
Total Stockholder's Equity$90,547$93,584
Total Liabilities and Stockholder's Equity$805,729$853,860
Total Liabilities and Stockholders' EquityMar. 31, 2009 June 30, 2009Sept. 30, 2009Dec. 31, 2009
Summary of Income
Interest Income		$10,376$10,459$10,081$10,198
Interest Expense
Net Interest Income		$3,474 $6,902$3,427 $7,032$3,220 $6,861$3,099 $7,099
Provision for loan losses$659$1,079$1,432$388
Net interest income after provision for loan losses$6,243$5,953$5,429$6,711
Other Income (expense)$3,880$4,016$3,739$3,621
Income before Federal Income Taxes$2,363$1,937$1,690$3,090
Income Taxes$633$536$414$892
Net Income$1,730$1,401$1,276$2,198
Earnings per common share$0.36$0.30$0.27$0.46
Average common shares outstanding4,756,3894,742,9104,731,8414,734,674

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