BRANCH CLOSURES

12 Months Ended

Dec. 31, 2013

BRANCH CLOSURES

BRANCH CLOSURES

NOTE 27 — BRANCH CLOSURES

       In April 2013, the Company closed eight branch offices in the following locations: Redkey, Fortville, Cambridge City, Fountain City, Trafalgar, East Enterprise, and Covington, Indiana and Troy, Ohio. The Company now operates two offices in Troy, Ohio. In total, the eight branches being closed represented approximately $85,000 in deposits. Included in the 2013 operating results are $150 of severance costs, $550 of impairment costs for the affected properties, and $50 of other costs related to the closing of the branches.