SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2012

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

NOTE 10 - SUBSEQUENT EVENTS

On April 12, 2012, 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 May 15, 2012. In a letter dated May 7, 2012, the FRB and Board of Governors approved Premier's request to pay the current $278,150 dividend due May 15, 2012. See Note 6 for additional details on Premier's Series A, Fixed Rate Cumulative Perpetual Preferred Stock.