Commitments and Contingencies

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies

10. COMMITMENTS AND CONTINGENCIES:

The Company is engaged in legal actions arising from the normal course of business. In management’s opinion, the Company has adequate legal defenses with respect to these actions, and as of December 31, 2012 the resolution of these matters is not expected to have material adverse effects upon the results of operations or financial condition of the Company.

The Company leases a portion of its bank premises and equipment under operating leases. At December 31, 2012, future minimum lease commitments were: 2013 – $821,000; 2014 – $608,000; 2015 – $524,000; 2016 – $466,000; 2017 – $279,000 and thereafter – $28,000.