BRANCH CLOSURES

9 Months Ended

Sep. 30, 2012

BRANCH CLOSURES

BRANCH CLOSURES

NOTE 12 — BRANCH CLOSURES

In March 2012, the Board of Directors approved the closure of six branch offices in the following locations: Potomac, Illinois, and Frankton, Charlestown, Liberty, Jeffersonville and Anderson, Indiana.  These branches were closed during the third quarter of 2012.  The Company operated two offices in Anderson, Indiana but consolidated those offices into a single location.  In total, the six branches closed represented approximately $54 million in deposits.  Included in the first nine months of 2012 operating results are $200 thousand of severance costs, $400 thousand of impairment costs for the affected properties, and $100 thousand of other costs related to the closing of the branches.