<SEC-DOCUMENT>0000743367-15-000031.txt : 20150312
<SEC-HEADER>0000743367-15-000031.hdr.sgml : 20150312
<ACCEPTANCE-DATETIME>20150312152934
ACCESSION NUMBER:		0000743367-15-000031
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150312
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20150312
DATE AS OF CHANGE:		20150312

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BAR HARBOR BANKSHARES
		CENTRAL INDEX KEY:			0000743367
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				010393663
		STATE OF INCORPORATION:			ME
		FISCAL YEAR END:			1122

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13349
		FILM NUMBER:		15695756

	BUSINESS ADDRESS:	
		STREET 1:		82 MAIN ST
		STREET 2:		PO BOX 400
		CITY:			BAR HARBOR
		STATE:			ME
		ZIP:			04609-0400
		BUSINESS PHONE:		2072883314

	MAIL ADDRESS:	
		STREET 1:		82 MAIN ST
		STREET 2:		PO BOX 400
		CITY:			BAR HARBOR
		STATE:			ME
		ZIP:			04609-0400
</SEC-HEADER>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>shareholderltr12mar2015.htm
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<DIV style="width:624px"><P style="margin:0px; font-size:12pt" align=center><B>UNITED STATES</B></P>
<P style="margin:0px; font-size:12pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0px; font-size:12pt" align=center><B>WASHINGTON, D.C. 20549</B></P>
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<P style="margin:0px; font-size:16pt" align=center><B>FORM 8-K</B></P>
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<P style="margin:0px; font-size:12pt" align=center><B>CURRENT REPORT PURSUANT</B></P>
<P style="margin:0px; font-size:12pt" align=center><B>TO SECTION 13 OR 15(D) OF THE</B></P>
<P style="margin:0px; font-size:12pt" align=center><B>SECURITIES EXCHANGE ACT OF 1934</B></P>
<P style="margin:0px" align=justify><BR></P>
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<P style="margin:0px; padding-bottom:4px; text-indent:24px; font-size:11pt; border-bottom:1px solid #000000" align=justify>Date of report (Date of earliest event reported)<FONT style="font-size:12pt"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 12, 2015</FONT></P>
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<P style="margin:0px; padding-bottom:4px; font-size:12pt; border-bottom:1px solid #000000" align=center><B>Bar Harbor Bankshares</B></P>
<P style="margin:0px; font-size:11pt" align=center>(Exact Name of Registrant as Specified in Its Charter)</P>
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<P style="margin:0px; padding-bottom:4px; font-size:12pt; border-bottom:1px solid #000000" align=center><B>Maine</B></P>
<P style="margin:0px; font-size:11pt" align=center>(State or Other Jurisdiction of Incorporation)</P>
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<P style="margin-top:0px; margin-bottom:2px; text-indent:121.333px; width:429.333px; font-size:12pt; border-bottom:1px solid #000000; float:left"><B>001-13349</B></P>
<P style="margin:0px; padding-bottom:4px; text-indent:-2px; font-size:12pt; border-bottom:1px solid #000000"><B>01-0393663</B></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:74.933px; width:367.067px; font-size:11pt; clear:left; float:left">(Commission File Number)</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt">(IRS Employer Identification No.)</P>
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<P style="margin:0px; padding-bottom:4px; font-size:12pt; border-bottom:1px solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;P.O. Box 400</B></P>
<P style="margin-top:0px; margin-bottom:2px; text-indent:62.2px; width:501.333px; font-size:12pt; border-bottom:1px solid #000000; float:left"><B>Main Street, Bar Harbor, ME</B></P>
<P style="margin:0px; padding-bottom:4px; text-indent:-2px; font-size:12pt; border-bottom:1px solid #000000"><B>04609-0400</B></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:36.267px; width:507.667px; font-size:11pt; clear:left; float:left">(Address of Principal Executive Offices)</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt">(Zip Code)</P>
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<P style="margin:0px; padding-bottom:4px; font-size:12pt; border-bottom:1px solid #000000" align=center><B>(207) 288-3314</B></P>
<P style="margin:0px; font-size:11pt" align=center>(Registrant&#146;s Telephone Number, Including Area Code)</P>
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<P style="margin:0px; padding-bottom:4px; border-bottom:1px solid #000000" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=center>(Former Name or Former Address, if Changed Since Last Report)</P>
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<P style="line-height:13pt; margin:0px; text-indent:24px; font-size:11pt" align=justify>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<I>see </I>General Instruction A.2. below):</P>
<P style="line-height:13pt; margin:0px" align=justify><BR></P>
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<P style="line-height:13pt; margin:0px; text-indent:-2px; font-size:11pt" align=justify>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
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<P style="line-height:13pt; margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; font-size:11pt; float:left">o</P>
<P style="line-height:13pt; margin:0px; text-indent:-2px; font-size:11pt" align=justify>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
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<P style="line-height:13pt; margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; font-size:11pt; float:left">o</P>
<P style="line-height:13pt; margin:0px; text-indent:-2px; font-size:11pt" align=justify>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
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<P style="line-height:13pt; margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; font-size:11pt; float:left">o</P>
<P style="line-height:13pt; margin:0px; text-indent:-2px; font-size:11pt" align=justify>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
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<P style="margin:0px; font-size:11pt; page-break-before:always"><B>TABLE OF CONTENTS</B></P>
<P style="margin:0px; font-size:11pt"><B>&nbsp;</B></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=368.2 /><TD width=58.2 /></TR>
<TR><TD style="margin-top:0px" valign=top width=368.2><P style="margin:0px; font-size:11pt">Item 7.01 Regulation FD</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt">Item 9.01 Financial Statements and Exhibits</P>
</TD><TD style="margin-top:0px" valign=top width=58.2><P style="margin:0px; font-size:11pt">Page 1</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt">Page 1</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=368.2><P style="margin:0px; font-size:11pt">Signatures</P>
</TD><TD style="margin-top:0px" valign=top width=58.2><P style="margin:0px; font-size:11pt">Page 1</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=368.2><P style="margin:0px; font-size:11pt">Exhibit Index</P>
</TD><TD style="margin-top:0px" valign=top width=58.2><P style="margin:0px; font-size:11pt">Page 2</P>
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<P style="margin:0px; font-size:11pt">&nbsp;</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:12pt; float:left"><B>ITEM 7.01</B></P>
<P style="margin:0px; text-indent:-2px; font-size:12pt"><B>REGULATION FD</B></P>
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<P style="margin:0px; font-size:11pt" align=justify>On March 12, 2015, Bar Harbor Bankshares mailed to its shareholders its shareholder dividend letter with respect to its previously announced quarterly dividend of 24.50 cents per share of common stock payable on March 13, 2015 to shareholders of record as of the close of business on February 13, 2015. A copy of the Company&#146;s shareholder dividend letter is furnished with this report as Exhibit 99.1 and incorporated herein by reference thereto. &nbsp;Your attention is directed to the shareholder letter in its entirety. </P>
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<P style="margin:0px; font-size:11pt" align=justify>&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:12pt; float:left"><B>ITEM 9.01</B></P>
<P style="margin:0px; text-indent:-2px; font-size:12pt"><B>FINANCIAL STATEMENTS AND EXHIBITS</B></P>
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<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; font-size:11pt; float:left">(d)</P>
<P style="margin:0px; padding-left:72px; text-indent:-2px; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits No. Description</P>
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<P style="margin-top:0px; margin-bottom:-2px; text-indent:96px; width:144px; font-size:11pt; float:left">99.1</P>
<P style="margin:0px; padding-left:144px; text-indent:-2px; font-size:11pt">Copy of Company&#146;s shareholder dividend letter dated March 13, 2015<FONT style="font-size:12pt">.</FONT></P>
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<P style="margin-top:6.133px; margin-bottom:6.133px; font-size:12pt"><B>SIGNATURES</B></P>
<P style="margin-top:6.133px; margin-bottom:6.133px; font-size:11pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<P style="margin-top:6.133px; margin-bottom:6.133px; font-size:12pt">Dated: <FONT style="font-size:11pt">&nbsp;March 12, 2015</FONT></P>
<P style="margin-top:6.133px; margin-bottom:6.133px; font-size:11pt">BAR HARBOR BANKSHARES</P>
<P style="margin:0px; font-size:11pt" align=justify>/s/ Gerald Shencavitz</P>
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<P style="margin:0px; font-size:11pt" align=justify>Gerald Shencavitz</P>
<P style="margin:0px; font-size:11pt" align=justify>EVP &amp; Chief Financial Officer</P>
<P style="margin-top:6.667px; margin-bottom:6.667px; font-size:12pt">&nbsp;</P>
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<P style="margin:0px; font-size:12pt" align=center><B>EXHIBIT INDEX</B></P>
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<P style="margin:0px; font-size:11pt" align=justify>99.1 &nbsp;&nbsp;Shareholder dividend letter dated March 13, 2015</P>
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<TYPE>EX-99
<SEQUENCE>2
<FILENAME>shareholderltr12mar2015ex991.htm
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<P style="margin:0px; font-size:16pt; page-break-before:always"><B>EXHIBIT 99.1</B></P>
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<P style="margin:0px; font-family:CG Times,Times New Roman">March 13, 2015</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman">Dear Fellow Shareholder:</P>
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<P style="margin-top:0px; margin-bottom:18.333px; font-family:CG Times,Times New Roman" align=justify>As previously announced, the Board of Directors of Bar Harbor Bankshares (the &#147;Company&#148;) declared a quarterly cash dividend of $0.245 per share of common stock payable March 13, 2015 to shareholders of record as of February 13, 2015. This cash dividend represents an increase of 1.0 cents, or 4.26%, compared with the prior quarter. Further, it represents a post-stock split (effectuated as a large stock dividend in the second quarter of 2014) adjusted increase of 2.83 cents or 13.1% compared with the first quarter of 2014. This represents our fifteenth consecutive quarter with a dividend increase.</P>
<P style="margin:0px; font-family:CG Times,Times New Roman" align=justify>For your convenience, I have enclosed our earnings press release and selected unaudited financial data for the three and twelve months ended December 31, 2014.</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman" align=justify>Despite persistent headwinds in the economy and the associated interest rate environment, our model is proving sound as we are holding firm to balancing growth and earnings. &nbsp;The result is improved core earnings which we believe enhances true franchise value. This can only be achieved through careful deployment of credit, a commitment to compliance, and a clear ability to connect the value and quality of our services for our customers. The following are highlights for the twelve months ended December 31, 2014:</P>
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<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; float:left">&#183;</P>
<P style="margin-top:0px; margin-bottom:11.133px; padding-left:48px; text-indent:-2px" align=justify>Net income amounted to $14.6 million, which represented an increase of $1.4 million or 10.8% compared with 2013. &nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left">&#183;</P>
<P style="margin-top:0px; margin-bottom:11.133px; padding-left:48px; text-indent:-2px" align=justify>Diluted earnings per share were $2.45, representing an increase of $0.23, or 10.4%, compared with 2013.</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left">&#183;</P>
<P style="margin-top:0px; margin-bottom:11.133px; padding-left:48px; text-indent:-2px" align=justify>Total assets at December 31, 2014 totaled $1.46 billion, up $85.4 million or 6.2% compared with year-end 2013. We continue to achieve growth across asset categories to balance risk and diversify revenue sources.</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left">&#183;</P>
<P style="margin-top:0px; margin-bottom:11.133px; padding-left:48px; text-indent:-2px" align=justify>Total loans ended the year at $919.0 million, representing an increase of $66.2 million, or 7.8%, compared with December 31, 2013.<FONT style="font-family:Helvetica Neue,Arial; font-size:15pt"> </FONT>Growth in the loan portfolio has been carefully sought to protect credit and interest rate standards. The market has become very competitive for asset growth in light of stagnated economic conditions for some time.</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left">&#183;</P>
<P style="margin-top:0px; margin-bottom:11.133px; padding-left:48px; text-indent:-2px" align=justify>Tax-equivalent net interest income was $45.7 million, up $4.9 million or 11.9% compared to 2013. With slow economic growth, we believe that we must consistently communicate the correlation between service and pricing, sustain the health of the securities portfolio margin through active management, and maintain a watchful eye on funding costs. &nbsp;The combination of these efforts is best evidenced by an 18 basis point improvement in our net interest margin during 2014. &nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left">&#183;</P>
<P style="margin-top:0px; margin-bottom:11.133px; padding-left:48px; text-indent:-2px; font-family:CG Times,Times New Roman" align=justify>Our return on average equity, return on average assets, and efficiency ratio were 10.69%, 1.03%, and 54.7%, respectively. &nbsp;These industry benchmarks are the result of our strong earnings and reflect the efforts of a committed team that has accepted the challenge to relentlessly pursue the evolution of our Company. &nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left">&#183;</P>
<P style="margin-top:0px; margin-bottom:11.133px; padding-left:48px; text-indent:-2px" align=justify>Our capital measures for both the Company and our Bank remain well above applicable regulatory standards for &#147;well-capitalized&#148; financial institutions.</P>
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<P style="margin:0px" align=justify>This has been a winter to remember. Significant amounts of snowfall in our region have made us all long for warmer days of summer that bring increased activity along the coast of Maine. We have been using these seasonally slower times in our region to improve upon our processes and products. You will continue to hear from me on these topics as these initiatives take time to properly complete and implement, but we believe they are necessary to meet the growing demands of the financial industry. Some of these enhancements are immediately improving convenience for our customers. For example, we have introduced remote deposit capability through the use of a camera on a Smartphone, which we believe has been particularly helpful to our consumer customers given the difficulty in traveling due to the frequent and severe snow storms that we have experienced this winter.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>Our other projects in small business and IT that are centered on improving delivery standards for the hardworking small business owners that are so vital to our company also remain on track. From process efficiency and expediency, to information security, to product availability, to heightened service levels, our team is committed to meeting the growing expectations of our customers and the financial services community each and every day of the year. &nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>As we closed out the year, we were particularly pleased with our core earnings performance. &nbsp;We are advancing franchise relationships that fuel deposit growth and create local loan demand, supporting the efforts of the very communities we call home. By simply holding to the long tested standards of community banking that involve commitments to customer and employee experiences, we continue to be very proud of the performance we are able to report to you, our valued shareholders. </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>We sincerely appreciate your continued loyalty and support. &nbsp;</P>
<P style="margin:0px" align=justify>The Company values direct feedback from our shareholders and we hope you will reach out to us. &nbsp;If you have any questions or concerns, please feel free to share your thoughts with me directly at <FONT style="color:#FFFF00"><U>csimard@bhbt.com</U></FONT> or by telephone at 207-288-2699. &nbsp;</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman" align=justify>Respectfully,</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman" align=justify>Curtis C. Simard</P>
<P style="margin:0px; font-family:CG Times,Times New Roman" align=justify>President &amp; CEO</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman" align=justify>Enclosures</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman" align=justify><I>This letter contains certain forward-looking statements with respect to the financial condition, results of operations and business of Bar Harbor Bankshares (the &#147;Company&#148;) for which the Company claims the protection of the safe harbor provided by the Private Securities Litigation Reform Act of 1995, as amended.&nbsp; You can identify these forward-looking statements by the use of words like &#147;strategy,&#148; &#147;anticipates,&#148; &#147;expects,&#148; &#147;plans,&#148; &#147;believes,&#148; will,&#148; &#147;estimates,&#148; &#147;intends,&#148; &#147;projects,&#148; &#147;goals,&#148; &#147;targets,&#148; and other words of similar meaning.&nbsp; You can also identify them by the fact that they do not relate strictly to historical or current facts.&nbsp; Forward-looking statements include, but are not limited to, those made in connection with estimates with respect to the future results of operation, financial condition, and the business of the Company and its subsidiaries which are subject to change based on the impact of various factors that could cause actual results to differ materially from those projected or suggested due to certain risks and uncertainties.&nbsp; These risks and uncertainties include, but are not limited to, cyber attacks or other failures in our technology and privacy protection measures, changes in general economic conditions, interest rates, deposit flows, loan demand, internal controls, legislation or regulation and accounting principles, policies or guidelines, risk that we may be unable to maintain growth across our asset categories, as well as other economic, competitive, governmental, regulatory and accounting and technological factors affecting the Company&#146;s operations.&nbsp;For more information about these risks and uncertainties and other risk factors, please see the Company&#146;s Annual Report on Form 10-K as updated by the Company&#146;s Quarterly Reports on Form 10-Q and other filings on file with the SEC.&nbsp;All of these factors should be carefully reviewed, and readers should not place undue reliance on these forward-looking statements.&nbsp; The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments.</I></P>
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<P style="margin:0px; padding-left:144px; text-indent:48px; font-size:18pt; page-break-before:always">PRESS RELEASE</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:384px; font-size:12pt; float:left"><B>For more information contact: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P style="margin:0px; text-indent:-2px; font-size:12pt"><B><U>FOR IMMEDIATE RELEASE</U></B></P>
<P style="margin:0px; font-size:12pt; clear:left"><B>Gerald Shencavitz</B></P>
<P style="margin:0px; font-size:12pt"><B>EVP and Chief Financial Officer</B></P>
<P style="margin:0px; font-size:12pt"><B>(207) 288-3314</B></P>
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<P style="margin:0px; font-size:12pt" align=center><B><U>Bar Harbor Bankshares Announces 2014 Earnings</U></B></P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify>BAR HARBOR, Maine (February 2, 2015) <B>&#150; </B>Bar Harbor Bankshares (NYSE MKT: BHB) (the &#147;Company&#148;) the parent company of Bar Harbor Bank &amp; Trust (the &#147;Bank&#148;), today announced record net income of $14.6 million for the year ended December 31, 2014, representing an increase of $1.4 million, or 10.8%, compared with 2013. The Company also reported record diluted earnings per share of $2.45 for 2014, representing an increase of $0.23, or 10.4%, compared with 2013. The Company&#146;s return on average equity amounted to 10.69%, up from 10.52% in 2013. The Company&#146;s return on average assets amounted to 1.03%, up from 0.98% in 2013.</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify>The Company also reported net income of $3.1 million for the quarter ended December 31, 2014, or diluted earnings per share of $0.52, compared with $3.3 million or diluted earnings per share of $0.55 in the fourth quarter of 2013, representing declines of $162 thousand and $0.03, or 5.0% and 5.5%, respectively. &nbsp;Included in fourth quarter earnings were net realized losses on the sale of securities amounting to $263 thousand, reflecting the Bank&#146;s efforts to lower the duration of the portfolio and its overall interest rate risk profile.</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify>&#147;Our 2014 performance continued a long-standing trend of delivering both growth and solid financial returns,&#148; said Company President and Chief Executive Officer, Curtis C. Simard. &#147;We are delighted to report our ninth consecutive year of record earnings following our recently announced fifteenth consecutive quarterly cash dividend increase.&#148;</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify>Mr. Simard continued, &#147;Despite the challenges presented by the protracted low interest rate environment and a still-struggling economy, our 2014 performance featured a $4.9 million, or 11.9%, increase in net interest income. This achievement was driven by an eighteen basis point improvement in our net interest margin combined with average earning asset growth of $76 million. Led by revenue from our Trust and other financial services division, we also enjoyed higher levels of fee income compared with last year. Reflecting our continued focus on core earnings, we are pleased to deliver a 2014 efficiency ratio of 54.7% while continuing to invest in our products, process, and people.&#148;</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify>In concluding, Mr. Simard added, &#147;We believe our commitment to pursuing a strategy of achieving long-term sustainable growth, profitability, and shareholder value without sacrificing our soundness is again evident from our financial results and overall performance. &nbsp;As we have said, this is at the very heart of our model. We continue to seek out opportunities to expand our business and deliver the promise of successful community banking to our customers, prospects, employees, and shareholders alike.&#148;</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify><B>Balance Sheet</B></P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify><B><I>Assets</I></B><B>: </B>Total assets ended the year at $1.46 billion, up $85.4 million, or 6.2%, compared with December 31, 2013. The increase in total assets was led by loan growth and, to a lesser extent, an increase in the Bank&#146;s securities portfolio.</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify><B><I>Loans: </I></B>Total loans ended the year at $919.0 million, up $66.2 million, or 7.8%, compared with December 31, 2013. Consumer loans, which principally consist of residential real estate mortgages, ended the year at $446.6 million, up $65.4 million or 17.2% compared with December 31, 2013. This increase was principally attributed to purchased residential mortgage loans, as loans originated and closed by the Bank were largely offset by principal pay-downs from the existing residential real estate portfolio.</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify>At year end, the Bank&#146;s commercial loan portfolio stood at $455.7 million, unchanged, compared with December 31, 2013. New commercial loan originations 2014 were largely offset with certain, sizeable loan payoffs as well as scheduled principal amortization from the portfolio. </P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify><B><I>Credit Quality: </I></B>Total non-performing loans ended the year at $12.3 million, representing an increase of $3.4 million compared with December 31, 2013. One residential real estate mortgage loan, which was placed in non-accrual status in the fourth quarter, represented 73.5% of this increase. Despite the increase in non-performing loans, the Bank does not believe it is reflective of credit deterioration in the loan portfolio as a whole.</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify>Total net loan charge-offs amounted to $1.3 million in 2014, or net charge-offs to average loans outstanding of 0.15%, up from $1.0 million and 0.12%, respectively, compared with 2013. The Bank recorded a provision for loan losses of $1.8 million in 2014, representing an increase of $415 thousand compared with 2013. The increase in the provision largely reflected elevated levels of loan loss experience and, to a lesser extent, increases in non-performing and other potential problem loans.</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify>At December 31, 2014, the Bank&#146;s allowance for loan losses stood at $9.0 million, representing an increase of $494 thousand or 5.8% compared with year end 2013. The allowance for loan losses expressed as a percentage of total loans ended the year at 0.98%, compared with 0.99% at year end 2013.</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify><B><I>Securities:</I></B> Total securities ended the year at $470.5 million, up $20.4 million, or 4.5%, compared with December 31, 2013. Securities purchased during 2014 consisted of mortgage-backed securities issued by U.S. Government agencies and sponsored-enterprises and, to a lesser extent, municipal securities issued by states and political subdivisions thereof. </P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify><B><I>Deposits:</I></B> Total deposits ended the year at $858.0 million, up $22.4 million, or 2.7%, compared with December 31, 2013. Demand, NOW and money market accounts combined were up $39.9 million or 9.1%, while time deposits declined $17.5 million, or 4.4%. The decline in time deposits was attributed to lower levels of brokered deposits compared with year end 2013.</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify><B><I>Capital: </I></B>At December 31, 2014, the Company and the Bank continued to exceed regulatory requirements for &#147;well-capitalized&#148; financial institutions. Under the capital adequacy guidelines administered by the Bank&#146;s principal regulators, &#147;well-capitalized&#148; institutions are those with Tier I leverage, Tier I Risk-based, and Total Risk-based ratios of at least 5%, 6% and 10%, respectively. At December 31, 2014, the Company&#146;s Tier I Leverage, Tier I Risk-based, and Total Risk-based capital ratios were 9.30%, 15.60% and 17.24%, respectively. </P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify><B><I>Three-for-Two Stock Split: </I></B>As previously announced<B><I>, </I></B>the Company&#146;s<B><I> </I></B>Board of Directors declared a three-for-two split of its common stock, payable as a large stock dividend, which was paid on May 19, 2014 to all stockholders of record at the close of business on May 5, 2014. Prior to the three-for-two stock split as a large stock dividend, the Company had approximately 3,944,290 shares of common stock outstanding. After the stock split, the number of shares of Company common stock outstanding increased to approximately 5,916,435. &nbsp;All previously reported share and per share data included in public filings subsequent to the payment date have been restated to reflect the retroactive effect of this three-for-two stock split.</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify><B><I>Shareholder Dividends: </I></B>During 2014 the Company paid regular cash dividends on its common stock in the aggregate amount of $5.36 million, compared with $4.92 million in 2013. The Company&#146;s 2014 dividend payout ratio amounted to 36.7%, compared with 37.3% in 2013. The total regular cash dividends paid in 2014 amounted to $0.905 per share of common stock, compared with $0.833 per share in 2013, representing an increase of 0.072 cents per share, or 8.6%.</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify>The Company&#146;s Board of Directors recently declared a first quarter 2015 regular cash dividend of 24.5 cents per share of common stock, representing an increase of 2.83 cents or 13.1% compared with the first quarter of 2014. Based on the year-end 2014 price of BHB&#146;s common stock of $32.00 per share, the dividend yield amounted to 3.06%. </P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify><B>Results of Operations</B></P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify><B><I>Net Interest Income: </I></B>For the year ended December 31, 2014, net interest income on a tax-equivalent basis amounted to $45.7 million, representing an increase of $4.9 million, or 11.9%, compared with 2013. The increase in net interest income was principally attributed to average earning asset growth of $75.7 million or 5.8%, combined with an eighteen basis point improvement in the net interest margin to 3.33%. The increase in the net interest margin was principally attributed to a twenty basis point decline in the weighted average cost of interest bearing liabilities to 0.82%, as the weighted average earning asset yield of 4.05% was unchanged compared with 2013. While the weighted average loan yield declined fifteen basis points in 2014, this decline was offset by a twenty-eight basis point increase in securities yields, as higher long-term interest rates and slowing mortgage refinance activity over this past year caused the amortization of mortgage-backed security purchase premiums to slow.</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify>For the quarter ended December 31, 2014, net interest income on a tax-equivalent basis amounted to $11.5 million, representing an increase of $656 thousand, or 6.1%, compared with the fourth quarter of 2013. The Bank&#146;s fourth quarter tax-equivalent net-interest margin amounted to 3.28%, up from 3.21% in the fourth quarter of 2013. The increase in net interest income was principally attributed to average earning asset growth of $52.9 million combined with a seven basis point improvement in the net interest margin to 3.28%. The increase in the net interest margin was principally attributed to an eleven basis point decline in the weighted average cost of interest bearing liabilities to 0.82%, as the weighted average earning asset yields declined three basis points to 4.00%. </P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify><B><I>Non-interest Income: </I></B>For the year ended December 31, 2014, total non-interest income amounted to $7.8 million, representing an increase of $192 thousand, or 2.5%. The increase in non-interest income was principally attributed to a $342 thousand, or 9.4% increase in trust and other financial services fees compared with 2013. This increase was principally attributed to increases in the value of assets under management and higher levels of fee income from retail brokerage activities. Partially offsetting the foregoing increase was a $97 thousand or 7.8% decline in service charges on deposits, reflecting lower levels of customer overdraft activity. Total realized securities gains, net of other-than-temporary impairment losses, amounted to $403 in 2014, representing a decline of $24 thousand, or 5.6%, compared with 2013.</P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify><B><I>Non-interest Expense: </I></B>For the year ended December 31, 2014, total non-interest expense amounted to $29.2 million, up $2.4 million, or 8.8%, compared with 2013. The increase in non-interest expense was largely attributed to a $1.6 million, or 10.6%, increase in salaries and employee benefits. The increase in salaries and employee benefits was attributed to a variety of factors including normal increases in base salaries, higher levels of employee incentive compensation, higher levels of employee health insurance, lower levels of deferred loan origination costs, as well as increases in staffing levels and strategic changes in staffing mix. Total other operating expenses amounted to $6.9 million in 2014, up $358 thousand, or 5.4%, compared with 2013. This increase largely reflected higher levels of loan collection and other real estate owned expenses. </P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify><B><I>Efficiency Ratio: </I></B>The Company&#146;s efficiency ratio, or non-interest operating expenses divided by the sum of tax-equivalent net interest income and non-interest income other than net securities gains and other-than-temporary impairments, measures the relationship of operating expenses to revenues. For the year ended December 31, 2014, the Company&#146;s efficiency ratio amounted to 54.7%, compared with 55.6% for 2013. These ratios compared favorably to peer and industry averages. </P>
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<P style="margin:0px; font-family:CG Times,Times New Roman; font-size:11pt" align=justify><B>About Bar Harbor Bankshares</B></P>
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<P style="margin:0px; font-size:11pt" align=justify>Bar Harbor Bankshares is the parent company of its wholly owned subsidiary, Bar Harbor Bank &amp; Trust. &nbsp;Founded in 1887, Bar Harbor Bank &amp; Trust provides full service community banking with fifteen branch office locations serving downeast, midcoast and central Maine. &nbsp;</P>
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<P style="margin:0px; font-size:11pt" align=justify><I>This earnings release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Bar Harbor Bankshares (the &#147;Company&#148;) for which the Company claims the protection of the safe harbor provided by the Private Securities Litigation Reform Act of 1995, as amended. You can identify these forward-looking statements by the use of words like &#147;strategy,&#148; &#147;anticipates&#148; &#147;expects,&#148; &#147;plans,&#148; &#147;believes,&#148; &#147;will,&#148; &#147;estimates,&#148; &#147;intends,&#148; &#147;projects,&#148; &#147;goals,&#148; &#147;targets,&#148; and other words of similar meaning. &nbsp;You can also identify them by the fact that they do not relate strictly to historical or current facts. &nbsp;Forward-looking statements include, but are not limited to, those made in connection with estimates with respect to the future results of operation, financial condition, and the business of the Company which are subject to change based on the impact of various factors that could cause actual results to differ materially from those projected or suggested due to certain risks and uncertainties. These risks and uncertainties include, but are not limited to, cyber attacks or other failures in our technology and privacy protection measures, changes in general economic conditions, interest rates, deposit flows, loan demand, internal controls, legislation or regulation and accounting principles, policies or guidelines, as well as other economic, competitive, governmental, regulatory and accounting and technological factors affecting the Company&#146;s operations. Furthermore, there is a risk that the Company may not identify or be successful in realizing upon new opportunities to expand its business consistent with its business strategy, which would limit our growth and may have a negative impact on future results of operations. For more information about these risks and uncertainties and other factors, please see the Company&#146;s Annual Report on Form 10-K, as updated by the Company&#146;s Quarterly Reports on Form 10-Q and other filings on file with the SEC. All of these factors should be carefully reviewed, and readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments.</I></P>
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<P style="margin:0px; font-family:Arial" align=center><B>Bar Harbor Bankshares</B></P>
<P style="margin:0px; font-family:Arial" align=center><B>Selected Financial Information</B></P>
<P style="margin:0px; font-family:Arial" align=center><B>(dollars in thousands except per share data)</B></P>
<P style="margin:0px; font-family:Arial" align=center><I>(unaudited)</I></P>
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</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=235 /><TD width=62 /><TD width=41.2 /><TD width=28.8 /><TD width=78 /><TD width=18.333 /><TD width=3 /><TD width=11.8 /><TD width=98.867 /><TD width=103.2 /></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=228.333 colspan=5><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>Period End</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=202.067 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>4th Quarter Average</B></P>
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<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman"><B>Balance Sheet Data</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>12/31/2014</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>12/31/2013</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>2014</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>2013</B></P>
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<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman"><B>&nbsp;&nbsp;&nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Total assets</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;$1,459,320 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1,373,893 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;$1,447,725 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1,379,442 </P>
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<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Total securities</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470,525 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450,170 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465,188 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464,953 </P>
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<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Total loans</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919,024 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852,857 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901,273 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851,640 </P>
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<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Allowance for loan losses</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,969 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,475 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,908 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,526 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Total deposits</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858,049 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835,651 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885,894 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865,256 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Total borrowings</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447,020 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409,445 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409,458 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381,972 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Shareholders' equity</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146,287 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121,379 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145,205 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124,994 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=228.333 colspan=5><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>Three Months Ended</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=202.067 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>Years Ended</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman"><B>Results Of Operations</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>12/31/2014</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>12/31/2013</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>12/31/2014</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>12/31/2013</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Interest and dividend income</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;13,520 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;13,076 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;53,718 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;50,749 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Interest expense</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,507 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,731 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,905 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11,663 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Net interest income</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11,013 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10,345 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43,813 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39,086 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Provision for loan losses</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,833 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,418 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Net interest income after</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;provision for loan losses</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10,556 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,855 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41,980 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37,668 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Non-interest income</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,533 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,817 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,758 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,566 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Non-interest expense</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,792 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,123 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29,211 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26,860 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Income before income taxes</P>
</TD><TD style="margin-top:0px; border-top:1px solid #000000" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,297 </P>
</TD><TD style="margin-top:0px; border-top:1px solid #000000" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,549 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-top:1px solid #000000" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20,527 </P>
</TD><TD style="margin-top:0px; border-top:1px solid #000000" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18,374 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Income taxes</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,195 </P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,285 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,914 </P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,191 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Net income</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,102 </P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,264 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;14,613 </P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;13,183 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=228.333 colspan=5><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>At or for the Three Months Ended</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=202.067 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>At or for the Years Ended</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman"><B>Share and Per Common Share Data</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=228.333 colspan=5><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>December 31,</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=202.067 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>December 31,</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>2014</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>2013</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>2014</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>2013</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Period-end shares outstanding</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,946,325 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,908,612 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,946,325 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,908,612 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Basic average shares outstanding</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,941,103 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,907,834 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,926,387 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,898,077 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Diluted average shares outstanding</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,008,790 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,943,063 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,976,264 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,928,440 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Basic earnings per share</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.52 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.55 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.47 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.24 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Diluted earnings per share</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.52 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.55 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.22 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Cash dividends</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.235 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.213 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.905 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.833 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Book value</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.60 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.54 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.60 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.54 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Tangible book value</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.68 </P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.60 </P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.68 </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.60 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman"><B>Selected Financial Ratios</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Return on Average Assets</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>0.85%</P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>0.94%</P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>1.03%</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>0.98%</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Return on Average Equity </P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>8.48%</P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>10.36%</P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>10.69%</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>10.52%</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Tax-equivalent Net Interest Margin</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>3.28%</P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>3.21%</P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>3.33%</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>3.15%</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px; font-family:CG Times,Times New Roman">Efficiency Ratio <I>(1)</I></P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>58.4%</P>
</TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>55.9%</P>
</TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>54.7%</P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>55.6%</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=235><P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px" valign=bottom width=103.2 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=125.133 colspan=3><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.8 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=148 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>At or for the Years Ended</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=148 colspan=3><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>December 31,</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>2014</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; font-family:CG Times,Times New Roman" align=center><B>2013</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman"><B>Asset Quality</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">Net charge-offs to average loans</P>
</TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>0.15%</P>
</TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>0.12%</P>
</TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">Allowance for loan losses to total loans</P>
</TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>0.98%</P>
</TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>0.99%</P>
</TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">Allowance for loan losses to non-performing loans</P>
</TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>73.0%</P>
</TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>95.9%</P>
</TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">Non-performing loans to total loans</P>
</TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>1.34%</P>
</TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>1.04%</P>
</TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">Non-performing assets to total assets</P>
</TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>0.88%</P>
</TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>0.76%</P>
</TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman"><B>Capital Ratios</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">Tier 1 leverage capital</P>
</TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>9.30%</P>
</TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>9.01%</P>
</TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">Tier 1 risk-based capital</P>
</TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>15.60%</P>
</TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>14.97%</P>
</TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">Total risk-based capital</P>
</TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>17.24%</P>
</TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>16.62%</P>
</TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">Tangible equity to total assets</P>
</TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>9.65%</P>
</TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>8.43%</P>
</TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; font-family:CG Times,Times New Roman">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=297 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman">Tangible common equity<I> (2)</I></P>
</TD><TD style="margin-top:0px" valign=bottom width=70 colspan=2><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>9.68%</P>
</TD><TD style="margin-top:0px" valign=bottom width=78><P style="margin:0px; font-family:CG Times,Times New Roman" align=right>8.46%</P>
</TD><TD style="margin-top:0px" valign=bottom width=235.2 colspan=5><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
</TABLE>
<DIV style="width:624px"><P style="margin-top:0px; margin-bottom:6.667px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:6.667px" align=justify><B>Use of non-GAAP Financial Measures</B></P>
<P style="margin-top:0px; margin-bottom:6.667px" align=justify>Certain information in this press release contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (&#147;GAAP&#148;). Management uses these &#147;non-GAAP&#148; measures in its analysis of the Company&#146;s performance and believes these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrating the effects of significant gains and charges in the current period. The Company believes that a meaningful analysis of its financial performance requires an understanding of the factors underlying that performance. Management believes that investors may use these non-GAAP financial measures to analyze financial performance without the impact of unusual items that may obscure trends in the Company&#146;s underlying performance. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. </P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; float:left"><I>(1)</I></P>
<P style="margin-top:0px; margin-bottom:6.667px; padding-left:48px; text-indent:-2px" align=justify><I>In certain places in this press release net interest income and the net interest margin is calculated and discussed on a fully tax-equivalent basis. Specifically included in interest income was tax-exempt interest income from certain investment securities and loans. An amount equal to the tax benefit derived from this tax-exempt income has been added back to the interest income total, which increased net interest income accordingly. Management believes the disclosure of tax-equivalent net interest income information improves the clarity of financial analysis, and is particularly useful to investors in understanding and evaluating the changes and trends in the Company&#146;s results of operations. Other financial institutions commonly present net interest income on a tax-equivalent basis. This adjustment is considered helpful in the comparison of one financial institution&#146;s net interest income to that of another institution, as each will have a different proportion of tax-exempt interest from its earning assets. Moreover, net interest income is a component of a second financial measure commonly used by financial institutions, net interest margin, which is the ratio of net interest income to average earning assets. For purposes of this measure as well, other financial institutions generally use tax-equivalent net interest income to provide a better basis of comparison from institution to institution. The Company follows these practices. </I></P>
<P style="margin-top:0px; margin-bottom:6.667px; clear:left" align=justify><BR></P>
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<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; float:left"><I>(2)</I></P>
<P style="margin-top:0px; margin-bottom:6.667px; padding-left:48px; text-indent:-2px" align=justify><I>The Company presents its efficiency ratio using non-GAAP information. The GAAP efficiency ratio is computed by dividing non-interest expense by the sum of tax-equivalent net interest income and non-interest income. The non-GAAP efficiency ratio presented in this press release is computed by dividing non-interest expense by the sum of tax-equivalent net interest income and non-interest income other than net securities gains and OTTI, and other significant non-recurring expenses. &nbsp;Fourth quarter and year-to-date non-recurring expenses amounted to $34 and $863, all of which were associated with the Border Trust transaction.</I></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; clear:left; float:left"><I>(3)</I></P>
<P style="margin-top:0px; margin-bottom:6.667px; padding-left:48px; text-indent:-2px" align=justify><I>The Company presents certain information based upon tangible common equity instead of total shareholders&#146; equity in accordance with GAAP. The difference between these two measures is the Company&#146;s intangible assets, specifically goodwill and core deposit intangibles from prior acquisitions. Management, banking regulators and many stock analysts use the tangible common equity ratio, the tangible equity to total assets ratio and the tangible book value per common share in conjunction with more traditional bank capital ratios to, among other things, compare the capital adequacy of banking organizations with significant amounts of goodwill or other intangible assets, typically stemming from the use of the purchase accounting method in accounting for mergers and acquisitions. The tangible common equity ratio is computed by dividing the total common shareholders' equity, less goodwill and other intangible assets, by total assets, less goodwill and other intangible assets. The tangible equity to total assets ratio is computed by dividing total shareholders' equity, less goodwill and other intangible assets, by total assets at period end. The tangible book value ratio is computed by dividing total shareholders&#146; equity, less goodwill and other intangible assets, by period end total outstanding shares of common stock.</I></P>
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