13F-HR 1 table1211.txt KEATING INVESTMENT COUNSELORS, INC. FORM 13F All Clients December 30, 2011 Voting Authority -------------------------- Value Shares/ Sh/ Put/ Invstmt Other Name of Issuer Title of class CUSIP (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- BB&T Capital Trust VI 9.6%-8/1 05531B201 257 9600.00 SH Sole 9600.00 9600.00 257 9600.00 SH Other 9600.00 Fleet Cap T VIII 7.2% due 3-15 33889X203 448 21600.00 SH Sole 21600.00 21600.00 448 21600.00 SH Other 21600.00 USB Capital XII 6.3% (Ca'2/15/ 903305209 1000 39600.00 SH Sole 39600.00 39600.00 1000 39600.00 SH Other 39600.00 Wachovia Capital TR IX 6.375% 92978x201 1556 62000.00 SH Sole 62000.00 62000.00 1556 62000.00 SH Other 62000.00 3M Company COM 88579Y101 4151 50793.39 SH Sole 50793.39 50793.39 4151 50793.39 SH Other 50793.39 AT&T Inc COM 00206R102 1161 38386.00 SH Sole 38386.00 38386.00 1161 38386.00 SH Other 38386.00 Abbott Laboratories COM 002824100 5991 106550.63SH Sole 106550.63 106550.63 5991 106550.63SH Other 106550.63 Accenture Plc - F COM G1151C101 742 13940.00 SH Sole 13940.00 13940.00 742 13940.00 SH Other 13940.00 Aflac Inc COM 001055102 1897 43846.05 SH Sole 43846.05 43846.05 1897 43846.05 SH Other 43846.05 Altria Group Inc COM 02209S103 906 30540.00 SH Sole 30540.00 30540.00 906 30540.00 SH Other 30540.00 Apache Corp COM 037411105 523 5774.61 SH Sole 5774.61 5774.61 523 5774.61 SH Other 5774.61 BB&T Corp COM 054937107 4282 170108.86SH Sole 170108.86 170108.86 4282 170108.86SH Other 170108.86 BP PLC Spons ADR COM 055622104 325 7609.00 SH Sole 7609.00 7609.00 325 7609.00 SH Other 7609.00 Barrick Gold Corp COM 067901108 606 13400.00 SH Sole 13400.00 13400.00 606 13400.00 SH Other 13400.00 Berkshire Hathaway Class A COM 084670108 1492 13.00 SH Sole 13.00 13.00 1492 13.00 SH Other 13.00 Bristol-Myers Squibb Co COM 110122108 4772 135413.00SH Sole 135413.00 135413.00 4772 135413.00SH Other 135413.00 Carnival Corp New COM 143658300 2407 73756.90 SH Sole 73756.90 73756.90 2407 73756.90 SH Other 73756.90 Caterpillar Inc. COM 149123101 725 8000.00 SH Sole 8000.00 8000.00 725 8000.00 SH Other 8000.00 Chevron Corp COM 166764100 6306 59265.40 SH Sole 59265.40 59265.40 6306 59265.40 SH Other 59265.40 Coca-Cola Co COM 191216100 4555 65100.00 SH Sole 65100.00 65100.00 4555 65100.00 SH Other 65100.00 ConAgra Foods, Inc. COM 205887102 275 10400.00 SH Sole 10400.00 10400.00 275 10400.00 SH Other 10400.00 ConocoPhillips COM 20825C104 5035 69092.00 SH Sole 69092.00 69092.00 5035 69092.00 SH Other 69092.00 Costco Wholesale COM 22160k105 250 3000.00 SH Sole 3000.00 3000.00 250 3000.00 SH Other 3000.00 Disney (Walt) Company COM 254687106 1779 47452.70 SH Sole 47452.70 47452.70 1779 47452.70 SH Other 47452.70 Dominion Resources Inc VA New COM 25746U109 580 10922.00 SH Sole 10922.00 10922.00 580 10922.00 SH Other 10922.00 Dover Corp. COM 260003108 4034 69483.92 SH Sole 69483.92 69483.92 4034 69483.92 SH Other 69483.92 Duke Energy Corp COM 26441C105 382 17381.00 SH Sole 17381.00 17381.00 382 17381.00 SH Other 17381.00 Emerson Electric COM 291011104 1646 35334.71 SH Sole 35334.71 35334.71 1646 35334.71 SH Other 35334.71 Enerplus Corp COM 292766102 656 25925.00 SH Sole 25925.00 25925.00 656 25925.00 SH Other 25925.00 Exxon Mobil Corp COM 30231G102 6097 71937.00 SH Sole 71937.00 71937.00 6097 71937.00 SH Other 71937.00 FirstMerit Corp COM 337915102 887 58600.00 SH Sole 58600.00 58600.00 887 58600.00 SH Other 58600.00 General Electric Co COM 369604103 5705 318539.60SH Sole 318539.60 318539.60 5705 318539.60SH Other 318539.60 Harris Corp COM 413875105 2241 62185.67 SH Sole 62185.67 62185.67 2241 62185.67 SH Other 62185.67 Home Depot Inc COM 437076102 5605 133317.00SH Sole 133317.00 133317.00 5605 133317.00SH Other 133317.00 Honeywell Int'l Inc COM 438516106 3588 66022.00 SH Sole 66022.00 66022.00 3588 66022.00 SH Other 66022.00 IBM Corp COM 459200101 3545 19278.40 SH Sole 19278.40 19278.40 3545 19278.40 SH Other 19278.40 Intel Corp COM 458140100 3855 158988.00SH Sole 158988.00 158988.00 3855 158988.00SH Other 158988.00 JP Morgan Chase & Co COM 46625H100 233 7002.00 SH Sole 7002.00 7002.00 233 7002.00 SH Other 7002.00 Johnson & Johnson COM 478160104 5703 86965.02 SH Sole 86965.02 86965.02 5703 86965.02 SH Other 86965.02 Kimberly-Clark Corp COM 494368103 4557 61952.64 SH Sole 61952.64 61952.64 4557 61952.64 SH Other 61952.64 Kraft Foods Inc-A COM 50075N104 4646 124350.73SH Sole 124350.73 124350.73 4646 124350.73SH Other 124350.73 McDonald's Corp COM 580135101 255 2540.00 SH Sole 2540.00 2540.00 255 2540.00 SH Other 2540.00 Medtronic Inc COM 585055106 4097 107117.00SH Sole 107117.00 107117.00 4097 107117.00SH Other 107117.00 Microsoft Corp. COM 594918104 1949 75059.00 SH Sole 75059.00 75059.00 1949 75059.00 SH Other 75059.00 Nokia Corporation ADS COM 654902204 1790 371375.00SH Sole 371375.00 371375.00 1790 371375.00SH Other 371375.00 Nordstrom Inc. COM 655664100 389 7825.00 SH Sole 7825.00 7825.00 389 7825.00 SH Other 7825.00 PNC Financial Services Group I COM 693475105 206 3567.00 SH Sole 3567.00 3567.00 206 3567.00 SH Other 3567.00 PepsiCo Inc. COM 713448108 3725 56148.00 SH Sole 56148.00 56148.00 3725 56148.00 SH Other 56148.00 Pfizer Inc COM 717081103 370 17100.00 SH Sole 17100.00 17100.00 370 17100.00 SH Other 17100.00 Philip Morris International In COM 718172109 5685 72445.00 SH Sole 72445.00 72445.00 5685 72445.00 SH Other 72445.00 Procter & Gamble Co COM 742718109 3400 50974.00 SH Sole 50974.00 50974.00 3400 50974.00 SH Other 50974.00 Progress Energy Inc COM 743263105 1188 21200.00 SH Sole 21200.00 21200.00 1188 21200.00 SH Other 21200.00 Stryker Corp COM 863667101 2004 40322.00 SH Sole 40322.00 40322.00 2004 40322.00 SH Other 40322.00 Sysco Corp COM 871829107 286 9750.00 SH Sole 9750.00 9750.00 286 9750.00 SH Other 9750.00 Teco Energy Inc. COM 872375100 1913 99960.00 SH Sole 99960.00 99960.00 1913 99960.00 SH Other 99960.00 Teleflex Inc. COM 879369106 202 3300.00 SH Sole 3300.00 3300.00 202 3300.00 SH Other 3300.00 Thermo Fisher Scientific Inc COM 883556102 1888 41983.00 SH Sole 41983.00 41983.00 1888 41983.00 SH Other 41983.00 Verizon Communications Inc COM 92343V104 4976 124021.00SH Sole 124021.00 124021.00 4976 124021.00SH Other 124021.00 Wal-Mart Stores Inc. COM 931142103 3865 64680.00 SH Sole 64680.00 64680.00 3865 64680.00 SH Other 64680.00 Columbia Acorn Fund Class Z 197199409 467 16927.490SH Sole 16927.490 16927.490 467 16927.490SH Other 16927.490 Mutual Shares Fund-Z 628380107 380 19029.453SH Sole 19029.453 19029.453 380 19029.453SH Other 19029.453 T Rowe Price Balanced Fund 77954G108 447 23617.013SH Sole 23617.013 23617.013 447 23617.013SH Other 23617.013 REPORT SUMMARY 124 DATA RECORDS 289770 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED