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Statement of Condition

Balance Sheets - December 31, 2012 and 2011

ASSETS 2012 2011
Cash and due from banks $8,438,835 $17,946,506
Federal funds sold 107,981 119,032
     Cash and cash equivalents 8,546,816 18,065,538
Interest-bearing deposits in other banks 229,065 76,634
Available-for-sale securities 198,722,404 164,033,229
Loans, net of allowance for loan losses of $1,120,865 185,207,254 184,076,325
   and $1,395,797 at December 31, 2012 and 2011
Premises and equipment, net 4,775,543 4,173,095
FRB and FHLB stock 3,536,382 3,536,382
Interest Receivable 2,920,876 2,730,870
Bank-owned life insurance 8,303,588 8,029,166
Prepaid FDIC assessment 392,867 578,447
Goodwill 5,326,866 5,326,866
Intangible assets 140,372 234,382
Prepaid dealer reserve 577,120 678,415
Refundable income taxes 91,037 460,156
Deferred income taxes - -
Other assets 279,534 234,321
Total assets $419,049,724 $392,233,826
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
  Deposits
       Demand $104,641,111 $93,272,839
       Savings, Now and money market 49,576,666 49,223,553
       Time 149,703,484 144,747,041
            Total Deposits 303,921,261 287,243,433
Short-term borrowings 5,767,397 4,242,329
FHLB advances 63,558,678 58,272,489
Accrued interest payable 434,907 521,423
Supplemental retirement plan liability 2,129,260 1,900,226
Deferred income taxes 689,140 428,339
 Other liabilities 754,600 584,491
     Total liabilities 377.255.243 353,192,730
Stockholders' equity
     Common stock, $100 par value;
        authorized and issued -  54,000 shares		 5,400,000 5,400,000
     Additional paid-in capital 10,528,619 10,528,619
     Retained earnings 24,368,828 21,621,416
     Accumulated other comprehensive income (loss) 1,497,034 1,491,061
          Total stockholders' equity 41,794,481 39,041,096
Total liabilities and stockholders' equity $419,049,724 $392,233,826