<SEC-DOCUMENT>0000905729-15-000022.txt : 20150202
<SEC-HEADER>0000905729-15-000022.hdr.sgml : 20150202
<ACCEPTANCE-DATETIME>20150202165221
ACCESSION NUMBER:		0000905729-15-000022
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20150202
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150202
DATE AS OF CHANGE:		20150202

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHOICEONE FINANCIAL SERVICES INC
		CENTRAL INDEX KEY:			0000803164
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				382659066
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19202
		FILM NUMBER:		15567678

	BUSINESS ADDRESS:	
		STREET 1:		109 E DIVISION
		STREET 2:		P O BOX 186
		CITY:			SPARTA
		STATE:			MI
		ZIP:			49345-0186
		BUSINESS PHONE:		6168877366

	MAIL ADDRESS:	
		STREET 1:		109 EAST DIVISION
		STREET 2:		P O BOX 186
		CITY:			SPARTA
		STATE:			MI
		ZIP:			49345-0186

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	1ST COMMUNITY BANCORP INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>choice8k_020215.htm
<DESCRIPTION>CHOICEONE FORM 8-K
<TEXT>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 14pt"><B>UNITED STATES</B></FONT><BR>
<FONT STYLE="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT><BR>
<B>Washington, D.C. 20549</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0 12pt; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0 12pt; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0 12pt; text-align: center">Pursuant to Section 13 or 15(d) of the<BR>
Securities Exchange Act of 1934</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0 12pt; text-align: center">Date of Report (Date of earliest event reported):
<B>February 2, 2015</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0 12pt; text-align: center"><B>ChoiceOne Financial Services, Inc.</B><BR>
(Exact Name of Registrant as<BR>
Specified in its Charter)</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 6%; padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td>
    <TD STYLE="width: 33%; padding-top: 5pt; padding-bottom: 5pt; text-align: center; layout-grid-mode: line"><b>Michigan</b><br>
(State or Other Jurisdiction<br>
of Incorporation)</td>
    <TD STYLE="width: 23%; padding-top: 5pt; padding-bottom: 5pt; text-align: center; layout-grid-mode: line"><b>000-19202</b><br>
(Commission<br>
File Number)</td>
    <TD STYLE="width: 33%; padding-top: 5pt; padding-bottom: 5pt; text-align: center; layout-grid-mode: line"><b>38-2659066</b><br>
(IRS Employer<br>
Identification No.)</td>
    <TD STYLE="width: 5%; padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<tr style="vertical-align: top">
    <td style="width: 49%; text-align: center; layout-grid-mode: line"><b>109 E. Division Street</b><br>
<b>Sparta, Michigan</b><br>
(Address of Principal Executive Offices)</td>
    <td style="width: 17%; padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td>
    <td style="width: 29%; padding-top: 5pt; padding-bottom: 5pt; text-align: center; layout-grid-mode: line"><br>
<b>49345</b><br>
(Zip Code)</td>
    <td style="width: 5%; padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center">Registrant's telephone number, including
area code: <B>(616) 887-7366</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0">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 (see General Instruction
A.2. below):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0"><FONT STYLE="font-family: Wingdings">o</FONT> Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0"><FONT STYLE="font-family: Wingdings">o</FONT> Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0"><FONT STYLE="font-family: Wingdings">o</FONT> Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0"><FONT STYLE="font-family: Wingdings">o</FONT>
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0"></P>

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<BR>
</P>


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<tr style="vertical-align: top">
    <td style="width: 13%; text-align: justify; layout-grid-mode: line"><b>Item 2.02</b></td>
    <td style="width: 87%; text-align: justify; layout-grid-mode: line"><b>Results of Operations and Financial Condition.</b></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; text-indent: 1in">On February 2, 2015, ChoiceOne
Financial Services, Inc. (the &ldquo;Company&rdquo;) issued the press release attached as Exhibit 99.1 to this Form 8-K, which
is here incorporated by reference. This Report and the Exhibit are furnished to, and not filed with, the Commission.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="text-align: justify; layout-grid-mode: line"><b>Item 9.01</b></td>
    <td colspan="3" style="text-align: justify; layout-grid-mode: line"><b>Financial Statements and Exhibits.</b></td></tr>
<tr style="vertical-align: top">
    <td style="text-align: justify; layout-grid-mode: line">&nbsp;</td>
    <td colspan="3" style="text-align: justify; layout-grid-mode: line">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="text-align: justify; layout-grid-mode: line">&nbsp;</td>
    <td style="text-align: justify; layout-grid-mode: line">(d)</td>
    <td colspan="2" style="text-align: justify; layout-grid-mode: line">Exhibits:</td></tr>
<tr style="vertical-align: top">
    <td style="text-align: justify; layout-grid-mode: line">&nbsp;</td>
    <td style="text-align: justify; layout-grid-mode: line">&nbsp;</td>
    <td colspan="2" style="text-align: justify; layout-grid-mode: line">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="width: 13%; text-align: justify; layout-grid-mode: line">&nbsp;</td>
    <td style="width: 9%; text-align: justify; layout-grid-mode: line">&nbsp;</td>
    <td style="width: 7%; text-align: justify; layout-grid-mode: line">99.1</td>
    <td style="width: 71%; text-align: justify; layout-grid-mode: line">Press Release dated February 2, 2015.&nbsp;&nbsp;This Exhibit is furnished to, and not filed with, the Commission.</td></tr>
</table>
<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 5pt 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: justify; text-indent: 1in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

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<tr style="vertical-align: top">
    <td style="padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">Dated:</td>
    <td style="padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">February 2, 2015</td>
    <td colspan="2" style="padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">CHOICEONE FINANCIAL SERVICES, INC.<br>
(Registrant)</td></tr>
<tr style="vertical-align: top">
    <td style="width: 7%; padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td>
    <td style="width: 45%; padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td>
    <td style="width: 5%; padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td>
    <td style="width: 43%; padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td>
    <td style="padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td>
    <td style="padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td>
    <td style="padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td>
    <td style="padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td>
    <td style="padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">By:</td>
    <td style="border-bottom: Black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">/s/ Thomas Lampen</td></tr>
<tr style="vertical-align: top">
    <td style="padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td>
    <td style="padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td>
    <td style="padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">&nbsp;</td>
    <td style="padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">Thomas Lampen<br>
Its Treasurer</td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/94% Times New Roman, Times, Serif; margin: 5pt 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center"><U>EXHIBIT</U> <U>INDEX</U></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 5pt 0">&nbsp;</P>

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<tr style="vertical-align: top">
    <td style="width: 19%; padding: 5pt -5.4pt 5pt 5.4pt; text-decoration: underline; text-align: center; layout-grid-mode: line"><u>Exhibit Number</u></td>
    <td style="width: 5%; padding: 5pt 5.4pt; layout-grid-mode: line">&nbsp;</td>
    <td style="width: 76%; padding: 5pt 5.4pt; text-decoration: underline; text-align: center; layout-grid-mode: line"><u>Document</u></td></tr>
<tr style="vertical-align: top">
    <td style="padding: 5pt 5.4pt; layout-grid-mode: line">&nbsp;</td>
    <td style="padding: 5pt 5.4pt; layout-grid-mode: line">&nbsp;</td>
    <td style="padding: 5pt 5.4pt; layout-grid-mode: line">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="padding: 5pt 5.4pt; text-align: center; layout-grid-mode: line">99.1</td>
    <td style="padding: 5pt 5.4pt; layout-grid-mode: line">&nbsp;</td>
    <td style="padding-top: 5pt; padding-bottom: 5pt; layout-grid-mode: line">ChoiceOne Financial Services, Inc. Press Release dated February 2, 2015.&nbsp;&nbsp;This Exhibit is furnished to, and not filed with, the Commission.</td></tr>
</table>
<P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 5pt 0">&nbsp;</P>



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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>choiceex991_020215.htm
<DESCRIPTION>CHOICEONE EXHIBIT 99.1
<TEXT>
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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 11pt"><B>EXHIBIT 99.1</B></FONT></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 9pt Sans-Serif; margin: 0; color: Red"><B>&nbsp;</B><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 9pt Sans-Serif; margin: 0; color: Red"><B></B></P>

<P STYLE="font: 9pt Sans-Serif; margin: 0; color: Red"><B>&nbsp;</B></P>

<P STYLE="font: 16pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 16pt Arial, Helvetica, Sans-Serif; margin: 0"><B>News Release</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; font: 10pt Courier New, Courier, Monospace"><FONT STYLE="font: small-caps 10pt Arial, Helvetica, Sans-Serif"><B>Contact:</B></FONT></TD>
    <TD STYLE="width: 85%; font: 10pt Courier New, Courier, Monospace"><FONT STYLE="font: small-caps 10pt Arial, Helvetica, Sans-Serif">Tom Lampen, ChoiceOne Bank</FONT><BR>
<FONT STYLE="font: small-caps 10pt Arial, Helvetica, Sans-Serif">(616) 887-2337</FONT><BR>
<FONT STYLE="font: small-caps 10pt Arial, Helvetica, Sans-Serif">tlampen@choiceone.com</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-variant: small-caps">ChoiceOne Financial Announces
Record Earnings For 2014</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Sparta,
Michigan &ndash; February 2, 2015</B> &ndash; ChoiceOne Financial Services, Inc. (OTC:COFS), the parent company for ChoiceOne
Bank, reported net income of $1,556,000 for the fourth quarter of 2014 compared to $1,346,000 in the same period in 2013. Earnings
per share were $0.47 in the fourth quarter of 2014 compared to $0.41 in the fourth quarter of the prior year. Net income for the
year of 2014 was $5,695,000 or $1.72 per diluted share, compared to $5,094,000 or $1.54 per diluted share for the year of 2013.</FONT></P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&ldquo;We were excited to build on last
year&rsquo;s positive financial results with another year of asset growth and increased returns,&rdquo; said James Bosserd, President
and Chief Executive Officer of ChoiceOne Financial Services, Inc. &ldquo;At the same time, our expenses remained flat while our
bank grew, which resulted in greater profitability.&rdquo;</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The increases in net income in both the
fourth quarter and the year of 2014 compared to the same periods in 2013 were due to higher net interest income and noninterest
income. The provision for loan losses was also slightly lower in the year of 2014 compared to the prior year. Total noninterest
expense increased in both the fourth quarter of 2014 and the year of 2014 compared to the same periods in 2013.</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Net interest income increased $196,000
in the fourth quarter of 2014 and $267,000 in the year of 2014 compared to the same periods in the prior year. Average earning
assets were $25.6 million higher in 2014 than in 2013. Growth of $17.6 million in the average balance of total loans resulted from
increases in both average commercial loans of $19.9 million and average consumer loans of $1.0 million, which were partially offset
by a decrease in the average balance of residential mortgage loans of $3.3 million. The average balance of securities was $8.7
million higher in 2014 compared to the same period in the prior year as securities were purchased in 2014 to provide growth in
earning assets. ChoiceOne&rsquo;s net interest spread on a tax-equivalent basis declined from 3.96 percent in 2013 to 3.81 percent
in 2014. This decrease in the net interest spread was caused by a reduction in the average rate earned on interest-earning assets
of 23 basis points, while the reduction in the average rate paid on interest-bearing liabilities was only 8 basis points.</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The provision for loan losses was $0 in
the fourth quarter and $100,000 in the year of 2014, compared to $0 and $300,000, respectively, in the same periods in 2013. The
lower provision in 2014 was due to lower net charge-offs experienced than in the prior year. ChoiceOne had net charge-offs of $488,000
in the fourth quarter of 2014 and net charge-offs of $663,000 in the year of 2014, compared to net charge-offs of $977,000 and
$1,417,000, respectively, in the comparable periods in the prior year. ChoiceOne&rsquo;s allowance for loan losses was 1.20 percent
of total loans as of December 31, 2014, compared to 1.38 percent as of September 30, 2014 and 1.50 percent as of December 31, 2013.
The decrease in the allowance for loan losses as a percentage of total loans was based on ChoiceOne&rsquo;s internal analysis of
potential losses in the bank&rsquo;s loan portfolio, which considered the fact that net charge-offs have declined each year since
2009. Total nonperforming loans were $6.9 million as of December 31, 2014, compared to $7.8 million as of September 30, 2014 and
$7.7 million as of December 31, 2013. The decrease in nonperforming loans during the fourth quarter of 2014 was primarily due to
a decline of $734,000 in nonaccrual loans. Nonperforming loans included $3.2 million of loans classified as troubled debt restructurings
as of December 31, 2014, of which $2.7 million were current as to payments and performing according to their new terms.</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Noninterest income was $210,000 higher
in the fourth quarter of 2014 and $557,000 higher in the year of 2014 than in the same periods in 2013. Customer service charges
increased $130,000 in the fourth quarter and $274,000 in 2014 compared to the same periods in the prior year as a result of service
charges on ChoiceOne&rsquo;s new checking accounts and growth in debit card fee income. Insurance and investment commission income
grew $33,000 in the </P>

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<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">fourth quarter and $80,000 in 2014 compared to the same periods in 2013, as a result of growth in investment
advisory fees. Gains on sales of loans were equal in the fourth quarters of 2014 and 2013 and declined $543,000 in the year of
2014 compared to the year of 2013. Increases in longer-term mortgage rates that occurred in the second half of 2013 and early 2014
caused a reduction in residential mortgage volume, while a decline in longer-term interest rates in the last quarter of 2014 had
a positive impact on mortgage volume. Gains on sales of securities rose $81,000 and $174,000 in the fourth quarter and year of
2014, respectively, compared to the same periods in the prior year. Net losses on sales of other assets were $687,000 less in 2014
compared to the same period in 2013 because of a reduction in write-downs of foreclosed properties. Other noninterest income declined
$43,000 in the fourth quarter of 2014 and $115,000 in 2014 compared to the same periods in the prior year as a result of losses
experienced in ChoiceOne&rsquo;s investments in its data processing subsidiary and a title insurance agency.</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Noninterest expense increased $107,000
in the fourth quarter and $130,000 in the year of 2014 compared to the same periods in 2013. Salaries and benefits expense grew
$164,000 in the fourth quarter and $216,000 in 2014 compared to the same periods in the prior year. Higher costs related to salaries,
health insurance, and retirement contributions were partially offset by lower commission expenses. Data processing expense grew
$150,000 in the fourth quarter and $182,000 in 2014 compared to the same periods in the prior year as a result of higher costs
related to electronic banking and software maintenance costs. The decrease of $104,000 in professional fees in the fourth quarter
of 2014 compared to the same period in 2013 was due to lower legal and consulting fees. Loan and collection expense was $83,000
lower in the fourth quarter and $255,000 lower in 2014 compared to the same periods in the prior year as a result of lower costs
related to collection of nonperforming loans and maintenance of foreclosed properties.</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Total assets increased $16.2 million in
the fourth quarter and $35.1 million in the year of 2014. Cash and cash equivalents increased $5.9 million in the fourth quarter
of 2014 and decreased $3.8 million since the end of 2013 due to the timing of loan and deposit growth. Securities grew $0.9 million
in the fourth quarter of 2014 and $5.9 million in 2014 as purchases were used to build earning assets. Net loans grew $8.2 million
in the fourth quarter of 2014 and $30.7 million since the end of 2013. Growth of $26.4 million was experienced in 2014 in commercial
loans with the remaining increase provided by consumer loans and residential mortgage loans. Total deposits increased $12.2 million
in the fourth quarter of 2014 and $16.7 million in 2014. Checking and savings deposits grew $24.4 million and local certificates
of deposit declined $7.7 million since the end of 2013. Borrowings increased $2.9 million in the fourth quarter of 2014 and $12.7
million in 2014 primarily as a result of additional advances from the Federal Home Loan Bank.</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">ChoiceOne Financial Services, Inc. is a
financial holding company headquartered in Sparta, Michigan and the parent corporation of ChoiceOne Bank. ChoiceOne Bank operates
12 full service offices in parts of Kent, Ottawa, Muskegon, and Newaygo Counties. ChoiceOne Bank offers insurance and investment
products through its subsidiary, ChoiceOne Insurance Agencies, Inc. ChoiceOne Financial Services, Inc. common stock is quoted on
the OTC under the symbol &ldquo;COFS.&rdquo; For more information, please visit Investor Relations at ChoiceOne&rsquo;s website
at www.choiceone.com.</P>

<P STYLE="font: 10pt/14pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B><U>Forward-Looking Statements</U></B><BR>
This press release contains forward-looking statements. Words such as &ldquo;anticipates,&rdquo; &ldquo;believes,&rdquo; &ldquo;estimates,&rdquo;
&ldquo;expects,&rdquo; &ldquo;forecasts,&rdquo; &ldquo;intends,&rdquo; &ldquo;is likely,&rdquo; &ldquo;plans,&rdquo; &ldquo;predicts,&rdquo;
&ldquo;projects,&rdquo; &ldquo;may,&rdquo; &ldquo;could,&rdquo; variations of such words and similar expressions are intended to
identify such forward-looking statements. Management&rsquo;s determination of the provision and allowance for loan losses, the
carrying value of goodwill and loan servicing rights, and the fair value of investment securities (including whether any impairment
on any investment security is temporary or other than temporary) and management&rsquo;s assumptions concerning pension and other
postretirement benefit plans involve judgments that are inherently forward-looking. These statements reflect management&rsquo;s
current beliefs as to the expected outcomes of future events and are not guarantees of future performance. These statements involve
certain risks, uncertainties and assumptions (&ldquo;risk factors&rdquo;) that are difficult to predict with regard to timing,
extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what may be expressed,
implied or forecasted in such forward-looking statements. Furthermore, ChoiceOne undertakes no obligation to update, amend, or
clarify forward-looking statements, whether as a result of new information, future events, or otherwise.</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Risk factors include, but are not limited
to, the risk factors described in Item 1A in ChoiceOne Financial Services, Inc.&rsquo;s Annual Report on Form 10-K for the year
ended December 31, 2013; changes in interest rates and interest rate relationships; demand for products and services; the degree
of competition by traditional and non-traditional </P>

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<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">competitors; changes in banking laws and regulations; changes in tax laws; changes
in prices, levies and assessments; the impact of technological advances; governmental and regulatory policy changes; the outcomes
of pending and future litigation and contingencies; trends in customer behavior as well as their abilities to repay loans; changes
in the local and national economies; changes in market conditions; the level and timing of asset growth; various other local and
global uncertainties such as acts of terrorism and military actions; and current uncertainties and fluctuations in the financial
markets and stocks of financial services providers due to concerns about capital levels and concerns about the Michigan economy
in particular. These are representative of the risk factors that could cause a difference between an ultimate actual outcome and
a preceding forward-looking statement.</P>

<P STYLE="font: 10pt/14pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Condensed Balance Sheets<BR>
(Unaudited)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Courier New, Courier, Monospace; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(In Thousands)</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>12/31/2014</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>9/30/2014</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>12/31/2013</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 50%"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Cash and Cash Equivalents</FONT></TD>
    <TD STYLE="width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">16,649</FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">10,793</FONT></TD>
    <TD STYLE="width: 3%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">20,479</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Securities</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">145,706</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">144,767</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">139,832</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Loans Held For Sale</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">2,170</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,987</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">931</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Loans, Net of Allowance For Loan Losses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">341,940</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">333,755</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">311,231</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Premises and Equipment</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">11,795</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">11,864</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">11,995</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Cash Surrender Value of Life Insurance Policies</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">12,071</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">10,487</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">10,269</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Goodwill and Other Intangible Assets</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">14,556</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">14,667</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">15,003</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Other Assets</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">4,753</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">5,100</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">4,835</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Assets</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">549,640</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">533,420</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">514,575</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Noninterest-bearing Deposits</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">113,006</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">107,802</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">102,243</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Interest-bearing Demand Deposits</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">149,923</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">140,287</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">139,670</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Savings Deposits</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">67,035</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">68,111</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">63,681</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Local Certificates of Deposit</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">104,864</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">106,350</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">112,533</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Borrowings</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">45,106</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">42,173</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">32,425</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Other Liabilities</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3,516</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3,591</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">2,465</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Liabilities</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">483,450</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">468,314</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">453,017</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Shareholders&rsquo; Equity</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">66,190</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">65,106</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">61,558</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Liabilities and Shareholders&rsquo; Equity</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">549,640</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">533,420</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">514,575</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Condensed Statements of Income<BR>
(Unaudited)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Courier New, Courier, Monospace; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="5" STYLE="text-align: center"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Quarter Ended</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="5" STYLE="text-align: center"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Twelve Months Ended</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(In Thousands, Except Per Share Data)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>12/31/2014</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>12/31/2013</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>12/31/2014</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>12/31/2013</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 50%"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Interest Income</FONT></TD>
    <TD STYLE="width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans, including fees</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3,993</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3,858</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">15,765</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">15,801</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">807</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">795</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3,240</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3,202</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">4</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">9</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">12</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Total Interest Income</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">4,803</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">4,657</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">19,014</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">19,015</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Interest Expense</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">242</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">297</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,042</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,328</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrowings</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">35</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">30</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">109</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">91</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Total Interest Expense</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">277</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">327</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,151</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,419</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Net Interest Income</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">4,526</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">4,330</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">17,863</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">17,596</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Provision for Loan Losses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">100</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">300</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Net Interest Income After Provision</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for Loan Losses</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">4,526</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">4,330</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">17,763</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">17,296</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Noninterest Income</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customer service charges</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,073</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">943</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3,951</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3,677</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance and investment commissions</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">228</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">195</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">906</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">826</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gains on sales of loans</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">297</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">297</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,023</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,566</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gains on sales of securities</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">129</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">48</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">311</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">137</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gains/(losses) on sales of other assets</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">7</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(2</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">)</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(135</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">)</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(822</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">165</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">208</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">746</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">861</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Total Noninterest Income</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,899</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,689</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">6,802</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">6,245</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Noninterest Expense</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Salaries and benefits</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">2,168</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">2,004</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">8,456</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">8,240</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occupancy and equipment</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">577</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">599</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">2,389</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">2,341</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Data processing</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">497</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">347</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,857</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,675</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professional fees</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">206</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">310</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">889</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">887</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loan and collection expense</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">19</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">102</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">122</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">377</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FDIC insurance</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">80</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">83</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">337</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">330</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other expense</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">749</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">744</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">2,744</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">2,814</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Total Noninterest Expense</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">4,296</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">4,189</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">16,794</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">16,664</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Income Before Income Tax</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">2,129</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,830</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">7,771</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">6,877</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Income Taxes</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">573</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">484</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">2,076</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,783</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Net Income</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,556</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,346</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">5,695</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">5,094</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Basic Earnings Per Share</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial (W1),sans-serif">0.48</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">0.41</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1.73</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1.55</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-top: 3pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Diluted Earnings Per Share</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-top: 3pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-top: 3pt; text-align: right"><FONT STYLE="font: 10pt Arial (W1),sans-serif">0.47</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-top: 3pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-top: 3pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-top: 3pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">0.41</FONT></TD>
    <TD STYLE="padding-top: 3pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-top: 3pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-top: 3pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1.72</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-top: 3pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-top: 3pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-top: 3pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1.54</FONT></TD>
    <TD STYLE="padding-top: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif; text-decoration: underline"><FONT STYLE="font-size: 10pt"><U>Performance Ratios</U></FONT></TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 14pt; font-family: Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Return on Average Assets (Annualized)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1.08</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1.01</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Return on Average Equity (Annualized)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">8.88</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">8.31</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Net Interest Margin (Tax Equivalent) (1)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3.81</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3.96</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Efficiency Ratio</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">69.0</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">70.5</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Net Loan Charge-offs</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">663</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,417</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Net Loan Charge-offs as Percentage of</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Loans (Annualized)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">0.20</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">0.45</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin: 6pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">(1)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The presentation of net interest margin on a tax-equivalent basis is not in accordance with
generally accepted accounting principles (&ldquo;GAAP&rdquo;), but is customary in the banking industry. This non-GAAP measure
ensures comparability of net interest margin arising from both taxable and tax-exempt loans and investment securities. The adjustments
to determine net interest income on a tax-equivalent basis were $722,000 for both the twelve months ended December 31, 2014 and
the twelve months ended December 31, 2013. The tax-equivalent adjustment uses an incremental tax rate of 34%.</FONT></P>

<P STYLE="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>



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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
