SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2011

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE  10 – SUBSEQUENT EVENTS

On July 14, 2011, Premier submitted a request to the FRB for written approval from the FRB and the Director of the Division of Banking Supervision and Regulation of the Board of Governors to declare and pay its quarterly dividend obligation to the U.S. Treasury due on August 15, 2011.  In a letter dated July 21, 2011, the FRB and Board of Governors approved Premier's July 14, 2011 request to pay the current $278,150 dividend due August 15, 2011 See Note 6 for additional details on Premier's Series A, Fixed Rate Cumulative Perpetual Preferred Stock.