Note 3.

Goodwill

The Company has goodwill relating to the purchase of five branches during the years 1994 through 2000. The balance of the goodwill at December 31, 2013 and 2012, as reflected on the consolidated balance sheets, was $2,807,842. Management determined that these purchases qualified as acquisitions of businesses and that the related unidentifiable intangibles were goodwill. Goodwill is tested annually for impairment. The test performed in December 2013 using financial information as of September 30, 2013 found no impairment. No events occurred between the date of our annual test and December 31, 2013 that would indicate the existence of impairment.