ACQUISITIONS

3 Months Ended

Mar. 31, 2013

ACQUISITIONS

ACQUISITIONS

NOTE 12 — ACQUISITIONS

In December, 2012, the Company completed its purchase of a branch in Shelbyville, Kentucky. As of the date of acquisition, the Company acquired $27,000 in loans and $37,000 in deposits. Goodwill of $1,000 and a core deposit intangible of $200 were also recorded in 2012. The Company completed its purchase accounting on this acquisition in the first quarter of 2013 and recorded an additional $432 of goodwill with the offset to time deposits.  The time deposit amount is being amortized over 4 years.