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Note 3 - Loans/Leases Receivable

3 Months Ended

Sep. 30, 2011

NOTE 3 – LOANS/LEASES RECEIVABLE

The composition of the loan/lease portfolio as of September 30, 2011 and December 31, 2010 is presented as follows:

	As of September 30,			As of December 31,
	2011			2010

Commercial and industrial loans	$	363,997,365		$	365,625,271
Commercial real estate loans
Owner-occupied commercial real estate		160,485,944			141,411,027
Commercial construction, land development, and other land		63,582,594			65,529,058
Other non owner-occupied commercial real estate		344,418,820			346,777,179
		568,487,358			553,717,264

Direct financing leases *		88,893,130			83,009,647
Residential real estate loans **		94,073,045			82,196,622
Installment and other consumer loans		79,892,870			86,239,944
		1,195,343,768			1,170,788,748
Plus deferred loan/lease orgination costs, net of fees		2,237,942			1,749,855
		1,197,581,710			1,172,538,603
Less allowance for estimated losses on loans/leases		(19,578,486	)		(20,364,656	)
	$	1,178,003,224		$	1,152,173,947


* Direct financing leases:
Net minimum lease payments to be received	$	101,466,699		$	94,921,417
Estimated unguaranteed residual values of leased assets		1,108,701			1,204,865
Unearned lease/residual income		(13,682,270	)		(13,116,635	)
		88,893,130			83,009,647
Plus deferred lease origination costs, net of fees		2,800,256			2,341,628
		91,693,386			85,351,275
Less allowance for estimated losses on leases		(1,051,960	)		(1,530,572	)
	$	90,641,426		$	83,820,703

**Includes residential real estate loans held for sale totaling $5,287,924 and $14,084,859 as of September 30, 2011 and December 31, 2010, respectively.

Management performs an evaluation of the estimated unguaranteed residual values of leased assets on an annual basis, at a minimum. The evaluation consists of discussions with reputable and current vendors and management’s expertise and understanding of the current states of particular industries to determine informal valuations of the equipment. As necessary and where available, management will utilize valuations by independent appraisers. The large majority of leases with residual values contain a lease options rider which requires the lessee to pay the residual value directly, finance the payment of the residual value, or extend the lease term to pay the residual value. In these cases, the residual value is protected and the risk of loss is minimal.

For the three and nine months ended September 30, 2011, and for the three months ended September 30, 2010, there were no losses on residual values. During the first quarter of 2010, the Company recognized losses totaling $617,000 in residual values for two direct financing equipment leases. At September 30, 2011, the Company had 43 leases remaining with residual values totaling $1,108,701 that were not protected with a lease end options rider. At December 31, 2010, the Company had 54 leases remaining with residual values totaling $1,204,865 that were not protected with a lease end options rider. Management has performed specific evaluations of these residual values and determined that the valuations are appropriate.

The aging of the loan/lease portfolio by classes of loans/leases as of September 30, 2011 is presented as follows:

Classes of Loans/Leases	Current			30-59 Days Past Due			60-89 Days Past Due			Accruing Past Due 90 Days or More			Nonaccrual Loans/Leases			Total

Commercial and Industrial	$	357,960,272		$	384,752		$	101,500		$	-		$	5,550,841		$	363,997,365
Commercial Real Estate
Owner-Occupied Commercial Real Estate		157,028,882			860,990			-			-			2,596,072			160,485,944
Commercial Construction, Land Development, and Other Land		53,798,001			-			1,039,528			-			8,745,065			63,582,594
Other Non Owner-Occupied Commercial Real Estate		323,363,602			5,763,492			5,824,332			321,605			9,145,789			344,418,820
Direct Financing Leases		86,897,793			1,158,023			120,825			-			716,489			88,893,130
Residential Real Estate		92,747,679			-			131,302			-			1,194,064			94,073,045
Installment and Other Consumer		78,113,490			289,418			420,426			11,886			1,057,650			79,892,870
	$	1,149,909,719		$	8,456,675		$	7,637,913		$	333,491		$	29,005,970		$	1,195,343,768

As a percentage of total loan/lease portfolio		96.20	%		0.71	%		0.64	%		0.03	%		2.43	%		100.00	%

The aging of the loan/lease portfolio by classes of loans/leases as of December 31, 2010 is presented as follows:

Classes of Loans/Leases	Current			30-59 Days Past Due			60-89 Days Past Due			Accruing Past Due 90 Days or More			Nonaccrual Loans/Leases			Total

Commercial and Industrial	$	353,437,063		$	300,224		$	203,722		$	-		$	11,684,262		$	365,625,271
Commercial Real Estate
Owner-Occupied Commercial Real Estate		139,880,634			236,910			-			103,015			1,190,468			141,411,027
Commercial Construction, Land Development, and Other Land		55,552,352			746,545			-			-			9,230,161			65,529,058
Other Non Owner-Occupied Commercial Real Estate		335,171,858			275,000			546,019			70,125			10,714,177			346,777,179
Direct Financing Leases		79,708,979			1,605,836			92,244			-			1,602,588			83,009,647
Residential Real Estate		79,910,279			876,509			-			123,557			1,286,277			82,196,622
Installment and Other Consumer		84,214,010			101,770			182,349			23,139			1,718,676			86,239,944
	$	1,127,875,175		$	4,142,794		$	1,024,334		$	319,836		$	37,426,609		$	1,170,788,748

As a percentage of total loan/lease portfolio		96.33	%		0.35	%		0.09	%		0.03	%		3.20	%		100.00	%

Nonperforming loans/leases by classes of loans/leases as of September 30, 2011 is presented as follows:

Classes of Loans/Leases	Accruing Past Due 90 Days or More		Nonaccrual Loans/Leases *		Troubled Debt Restructurings - Accruing		Total Nonperforming Loans/Leases		Percentage of Total Nonperforming Loans/Leases

Commercial and Industrial	$	-	$	5,550,841	$	-	$	5,550,841		17.34	%
Commercial Real Estate
Owner-Occupied Commercial Real Estate		-		2,596,072		-		2,596,072		8.11	%
Commercial Construction, Land Development, and Other Land		-		8,745,065		1,114,956		9,860,021		30.80	%
Other Non Owner-Occupied Commercial Real Estate		321,605		9,145,789		941,140		10,408,534		32.51	%
Direct Financing Leases		-		716,489		619,114		1,335,603		4.17	%
Residential Real Estate		-		1,194,064		-		1,194,064		3.73	%
Installment and Other Consumer		11,886		1,057,650		-		1,069,536		3.34	%
	$	333,491	$	29,005,970	$	2,675,210	$	32,014,671		100.00	%

*Nonaccrual loans/leases includes $8,640,421 of troubled debt restructurings, including $219,220 in commercial and industrial loans, and $7,956,866 in commercial real estate loans.

Nonperforming loans/leases by classes of loans/leases as of December 31, 2010 is presented as follows:

Classes of Loans/Leases	Accruing Past Due 90 Days or More		Nonaccrual Loans/Leases **		Troubled Debt Restructurings - Accruing		Total Nonperforming Loans/Leases		Percentage of Total Nonperforming Loans/Leases

Commercial and Industrial	$	-	$	11,684,262	$	180,228	$	11,864,490		28.83	%
Commercial Real Estate
Owner-Occupied Commercial Real Estate		103,015		1,190,468		-		1,293,483		3.14	%
Commercial Construction, Land Development, and Other Land		-		9,230,161		961,879		10,192,040		24.77	%
Other Non Owner-Occupied Commercial Real Estate		70,125		10,714,177		2,100,837		12,885,139		31.31	%
Direct Financing Leases		-		1,602,588		162,502		1,765,090		4.29	%
Residential Real Estate		123,557		1,286,277		-		1,409,834		3.43	%
Installment and Other Consumer		23,139		1,718,676		-		1,741,815		4.23	%
	$	319,836	$	37,426,609	$	3,405,446	$	41,151,891		100.00	%

**Nonaccrual loans/leases includes $12,631,343 of troubled debt restructurings, including $2,200,986 in commercial and industrial loans and $9,407,276 in commercial real estate loans.

Changes in the allowance for estimated losses on loans/leases by portfolio segment for the three and nine months ended September 30, 2011 and 2010, respectively, are presented as follows:

	Three Months Ended September 30, 2011

	Commercial and Industrial			Commercial Real Estate			Direct Financing Leases			Residential Real Estate			Installment and Other Consumer			Total

Balance, beginning	$	7,124,444		$	8,602,639		$	1,591,309		$	757,075		$	1,727,165		$	19,802,632
Provisions charged to expense		(211,491	)		2,645,457			159,965			92,032			(228,998	)		2,456,965
Loans/leases charged off		(1,465,577	)		(852,174	)		(701,658	)		-			(84,358	)		(3,103,767	)
Recoveries on loans/leases previously charged off		174,013			212,683			2,344			-			33,616			422,656
Balance, ending	$	5,621,389		$	10,608,605		$	1,051,960		$	849,107		$	1,447,425		$	19,578,486

	Three Months Ended September 30, 2010

	Commercial and Industrial			Commercial Real Estate			Direct Financing Leases			Residential Real Estate			Installment and Other Consumer			Total

Balance, beginning	$	5,875,508		$	11,907,867		$	1,707,762		$	567,491		$	1,502,335		$	21,560,963
Provisions charged to expense		839,037			205,290			210,232			109,850			69,823			1,434,232
Loans/leases charged off		(1,151,574	)		(1,631,524	)		(695,176	)		-			(100,919	)		(3,579,193	)
Recoveries on loans/leases previously charged off		13,995			278,594			156,288			-			17,947			466,824
Balance, ending	$	5,576,966		$	10,760,227		$	1,379,106		$	677,341		$	1,489,186		$	19,882,826

	Nine Months Ended September 30, 2011

	Commercial and Industrial			Commercial Real Estate			Direct Financing Leases			Residential Real Estate			Installment and Other Consumer			Total

Balance, beginning	$	7,548,922		$	9,087,315		$	1,530,572		$	748,028		$	1,449,819		$	20,364,656
Provisions charged to expense		1,005,002			3,038,359			463,850			101,079			588,560			5,196,850
Loans/leases charged off		(3,256,194	)		(1,773,711	)		(945,104	)		-			(701,390	)		(6,676,399	)
Recoveries on loans/leases previously charged off		323,659			256,642			2,642			-			110,436			693,379
Balance, ending	$	5,621,389		$	10,608,605		$	1,051,960		$	849,107		$	1,447,425		$	19,578,486


	Nine Months Ended September 30, 2010

	Commercial and Industrial			Commercial Real Estate			Direct Financing Leases			Residential Real Estate			Installment and Other Consumer			Total

Balance, beginning	$	5,425,624		$	12,665,721		$	1,681,376		$	685,732		$	2,046,281		$	22,504,734
Provisions charged to expense		3,033,353			721,158			468,651			(8,391	)		198,879			4,413,650
Loans/leases charged off		(2,993,277	)		(3,030,503	)		(928,019	)		-			(891,008	)		(7,842,807	)
Recoveries on loans/leases previously charged off		111,266			403,851			157,098			-			135,034			807,249
Balance, ending	$	5,576,966		$	10,760,227		$	1,379,106		$	677,341		$	1,489,186		$	19,882,826

The allowance for estimated losses on loans/leases by impairment evaluation and by portfolio segment as of September 30, 2011 is presented as follows:

	Commercial and Industrial			Commercial Real Estate			Direct Financing Leases			Residential Real Estate			Installment and Other Consumer			Total

Allowance for loans/leases individually evaluated for impairment	$	945,475		$	4,741,965		$	8,000		$	66,035		$	108,724		$	5,870,199
Allowance for loans/leases collectively evaluated for impairment		4,675,914			5,866,640			1,043,960			783,072			1,338,701			13,708,287
	$	5,621,389		$	10,608,605		$	1,051,960		$	849,107		$	1,447,425		$	19,578,486


Loans/leases individually evaluated for impairment	$	3,420,793		$	22,539,729		$	1,335,603		$	1,194,063		$	721,943		$	29,212,131
Loans/leases collectively evaluated for impairment		360,576,572			545,947,629			87,557,527			92,878,982			79,170,927			1,166,131,637
	$	363,997,365		$	568,487,358		$	88,893,130		$	94,073,045		$	79,892,870		$	1,195,343,768


Allowance as a percentage of loans/leases individually evaluated for impairment		27.64	%		21.04	%		0.60	%		5.53	%		15.06	%		20.10	%
Allowance as a percentage of loans/leases collectively evaluated for impairment		1.30	%		1.07	%		1.19	%		0.84	%		1.69	%		1.18	%
		1.54	%		1.87	%		1.18	%		0.90	%		1.81	%		1.63	%

The allowance for estimated losses on loans/leases by impairment evaluation and by portfolio segment as of December 31, 2010 is presented as follows:

	Commercial and Industrial			Commercial Real Estate			Direct Financing Leases			Residential Real Estate			Installment and Other Consumer			Total

Allowance for loans/leases individually evaluated for impairment	$	3,331,437		$	3,709,177		$	335,000		$	27,355		$	49,777		$	7,452,746
Allowance for loans/leases collectively evaluated for impairment		4,217,485			5,378,138			1,195,572			720,673			1,400,042			12,911,910
	$	7,548,922		$	9,087,315		$	1,530,572		$	748,028		$	1,449,819		$	20,364,656

Loans/leases individually evaluated for impairment	$	8,824,670		$	24,770,032		$	1,765,090		$	1,286,277		$	1,611,098		$	38,257,167
Loans/leases collectively evaluated for impairment		356,800,601			528,947,232			81,244,557			80,910,345			84,628,846			1,132,531,581
	$	365,625,271		$	553,717,264		$	83,009,647		$	82,196,622		$	86,239,944		$	1,170,788,748

Allowance as a percentage of loans/leases individually evaluated for impairment		37.75	%		14.97	%		18.98	%		2.13	%		3.09	%		19.48	%
Allowance as a percentage of loans/leases collectively evaluated for impairment		1.18	%		1.02	%		1.47	%		0.89	%		1.65	%		1.14	%
		2.06	%		1.64	%		1.84	%		0.91	%		1.68	%		1.74	%

Information for impaired loans/leases is presented in the tables below. The recorded investment represents customer balances net of any partial charge-offs recognized on the loan/lease. The unpaid principal balance represents the recorded balance outstanding on the loan/lease prior to any partial charge-offs.

Information for impaired loans/leases by classes of financing receivable as of and for the nine months ended September 30, 2011 is as follows:

Classes of Loans/Leases	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized		Interest Income Recognized for Cash Payments Received

Impaired Loans/Leases with No Specific Allowance Recorded:
Commercial and Industrial	$	771,177	$	1,446,065	$	-	$	4,363,221	$	15,961	$	15,961
Commercial Real Estate
Owner-Occupied Commercial Real Estate		1,572,641		1,625,409		-		2,009,518		54,314		54,314
Commercial Construction, Land Development, and Other Land		234,890		234,890		-		1,524,700		-		-
Other Non Owner-Occupied Commercial Real Estate		1,730,764		1,730,764		-		3,665,415		-		-
Direct Financing Leases		1,231,385		1,231,385		-		529,106		-		-
Residential Real Estate		932,813		932,813		-		1,008,968		-		-
Installment and Other Consumer		613,219		613,219		-		835,483		-		-
	$	7,086,889	$	7,814,545	$	-	$	13,936,411	$	70,275	$	70,275

Impaired Loans/Leases with Specific Allowance Recorded:
Commercial and Industrial	$	2,649,616	$	2,649,616	$	945,475	$	1,515,521	$	-	$	-
Commercial Real Estate
Owner-Occupied Commercial Real Estate		1,390,681		1,390,681		611,350		160,397		-		-
Commercial Construction, Land Development, and Other Land		9,625,131		9,663,955		3,356,291		4,927,747		473		473
Other Non Owner-Occupied Commercial Real Estate		7,985,622		8,485,622		774,324		6,894,571		-		-
Direct Financing Leases		104,218		104,218		8,000		1,021,241		-		-
Residential Real Estate		261,250		295,928		66,035		168,233		-		-
Installment and Other Consumer		108,724		110,527		108,724		64,922		-		-
	$	22,125,242	$	22,700,547	$	5,870,199	$	14,752,632	$	473	$	473

Total Impaired Loans/Leases:
Commercial and Industrial	$	3,420,793	$	4,095,681	$	945,475	$	5,878,742	$	15,961	$	15,961
Commercial Real Estate
Owner-Occupied Commercial Real Estate		2,963,322		3,016,090		611,350		2,169,915		54,314		54,314
Commercial Construction, Land Development, and Other Land		9,860,021		9,898,845		3,356,291		6,452,447		473		473
Other Non Owner-Occupied Commercial Real Estate		9,716,386		10,216,386		774,324		10,559,986		-		-
Direct Financing Leases		1,335,603		1,335,603		8,000		1,550,347		-		-
Residential Real Estate		1,194,063		1,228,741		66,035		1,177,201		-		-
Installment and Other Consumer		721,943		723,746		108,724		900,405		-		-
	$	29,212,131	$	30,515,092	$	5,870,199	$	28,689,043	$	70,748	$	70,748

Impaired loans/leases for which no allowance has been provided have adequate collateral, based on management’s current estimates.

Information for impaired loans/leases by classes of financing receivable for the three months ended September 30, 2011 is as follows:

Classes of Loans/Leases	Average Recorded Investment		Interest Income Recognized		Interest Income Recognized for Cash Payments Received

Impaired Loans/Leases with No Specific Allowance Recorded:
Commercial and Industrial	$	2,236,289	$	-	$	-
Commercial Real Estate
Owner-Occupied Commercial Real Estate		1,774,342		11,909		11,909
Commercial Construction, Land Development, and Other Land		286,339		-		-
Other Non Owner-Occupied Commercial Real Estate		1,730,764		-		-
Direct Financing Leases		668,944		-		-
Residential Real Estate		942,011		-		-
Installment and Other Consumer		710,560		-		-
	$	8,349,249	$	11,909	$	11,909

Impaired Loans/Leases with Specific Allowance Recorded:
Commercial and Industrial	$	1,534,968	$	-	$	-
Commercial Real Estate
Owner-Occupied Commercial Real Estate		360,894		-		-
Commercial Construction, Land Development, and Other Land		5,595,484		473		473
Other Non Owner-Occupied Commercial Real Estate		7,488,032		-		-
Direct Financing Leases		983,131		-		-
Residential Real Estate		200,625		-		-
Installment and Other Consumer		108,859		-		-
	$	16,271,993	$	473	$	473

Total Impaired Loans/Leases:
Commercial and Industrial	$	3,771,257	$	-	$	-
Commercial Real Estate
Owner-Occupied Commercial Real Estate		2,135,236		11,909		11,909
Commercial Construction, Land Development, and Other Land		5,881,823		473		473
Other Non Owner-Occupied Commercial Real Estate		9,218,796		-		-
Direct Financing Leases		1,652,075		-		-
Residential Real Estate		1,142,636		-		-
Installment and Other Consumer		819,419		-		-
	$	24,621,242	$	12,382	$	12,382

Impaired loans/leases for which no allowance has been provided have adequate collateral, based on management’s current estimates.

Information for impaired loans/leases by classes of financing receivable as of December 31, 2010 is as follows:

Classes of Loans/Leases	Recorded Investment		Unpaid Principal Balance		Related Allowance

Impaired Loans/Leases with No Specific Allowance Recorded:
Commercial and Industrial	$	1,459,790	$	3,350,036	$	-
Commercial Real Estate
Owner-Occupied Commercial Real Estate		681,727		681,727		-
Commercial Construction, Land Development, and Other Land		2,538,621		2,872,083		-
Other Non Owner-Occupied Commercial Real Estate		2,942,189		3,792,226		-
Direct Financing Leases		953,994		953,994		-
Residential Real Estate		758,031		758,031		-
Installment and Other Consumer		1,561,322		1,561,322		-
	$	10,895,674	$	13,969,419	$	-

Impaired Loans/Leases with Specific Allowance Recorded:
Commercial and Industrial	$	7,364,880	$	7,866,634	$	3,331,436
Commercial Real Estate
Owner-Occupied Commercial Real Estate		1,074,210		1,074,210		232,194
Commercial Construction, Land Development, and Other Land		7,660,458		7,660,458		1,818,193
Other Non Owner-Occupied Commercial Real Estate		9,872,826		10,091,777		1,658,791
Direct Financing Leases		811,096		811,096		335,000
Residential Real Estate		528,246		528,246		27,355
Installment and Other Consumer		49,777		49,777		49,777
	$	27,361,493	$	28,082,198	$	7,452,746

Total Impaired Loans/Leases:
Commercial and Industrial	$	8,824,670	$	11,216,670	$	3,331,436
Commercial Real Estate
Owner-Occupied Commercial Real Estate		1,755,937		1,755,937		232,194
Commercial Construction, Land Development, and Other Land		10,199,079		10,532,541		1,818,193
Other Non Owner-Occupied Commercial Real Estate		12,815,015		13,884,003		1,658,791
Direct Financing Leases		1,765,090		1,765,090		335,000
Residential Real Estate		1,286,277		1,286,277		27,355
Installment and Other Consumer		1,611,099		1,611,099		49,777
	$	38,257,167	$	42,051,617	$	7,452,746

Impaired loans/leases for which no allowance has been provided have adequate collateral, based on management’s current estimates.

For each class of financing receivable, the following presents the recorded investment by credit quality indicator as of September 30, 2011:

			Commercial Real Estate
					Non Owner-Occupied
Internally Assigned Risk Rating	Commercial and Industrial		Owner-Occupied Commercial Real Estate		Commercial Construction, Land Development, and Other Land		Other Commercial Real Estate		Total

Pass (Ratings 1 through 5)	$	326,845,312	$	146,744,108	$	50,025,363	$	303,472,012	$	827,086,795
Special Mention (Rating 6)		9,211,829		2,704,551		505,706		19,546,611		31,968,697
Substandard (Rating 7)		27,940,224		11,037,285		13,051,525		21,400,197		73,429,231
Doubtful (Rating 8)		-		-		-		-		-
	$	363,997,365	$	160,485,944	$	63,582,594	$	344,418,820	$	932,484,723


	As of September 30, 2011
Delinquency Status *	Direct Financing Leases		Residential Real Estate		Installment and Other Consumer		Total

Performing	$	87,557,527	$	92,878,981	$	78,823,334	$	259,259,842
Nonperforming		1,335,603		1,194,064		1,069,536		3,599,203
	$	88,893,130	$	94,073,045	$	79,892,870	$	262,859,045

*Performing = loans/leases accruing and less than 90 days past due. Nonperforming = loans/leases on nonaccrual, accruing loans/leases that are greater than or equal to 90 days past due, or troubled debt restructurings.

For each class of financing receivable, the following presents the recorded investment by credit quality indicator as of December 31, 2010:

			Commercial Real Estate
					Non Owner-Occupied
Internally Assigned Risk Rating	Commercial and Industrial		Owner-Occupied Commercial Real Estate		Commercial Construction, Land Development, and Other Land		Other Commercial Real Estate		Total

Pass (Ratings 1 through 5)	$	327,875,886	$	120,271,507	$	43,881,561	$	308,631,488	$	800,660,442
Special Mention (Rating 6)		10,457,805		7,510,519		10,338,187		15,244,142		43,550,653
Substandard (Rating 7)		27,270,474		13,629,001		11,309,310		22,901,549		75,110,334
Doubtful (Rating 8)		21,106		-		-		-		21,106
	$	365,625,271	$	141,411,027	$	65,529,058	$	346,777,179	$	919,342,535


	As of December 31, 2010
Delinquency Status *	Direct Financing Leases		Residential Real Estate		Installment and Other Consumer		Total

Performing	$	81,244,557	$	80,786,788	$	84,498,129	$	246,529,474
Nonperforming		1,765,090		1,409,834		1,741,815		4,916,739
	$	83,009,647	$	82,196,622	$	86,239,944	$	251,446,213

For commercial and industrial and commercial real estate loans, the Company’s credit quality indicator is internally assigned risk ratings. Each commercial loan is assigned a risk rating upon origination. The risk rating is reviewed every 15 months, at a minimum, and on an as needed basis depending on the specific circumstances of the loan.

For direct financing leases, residential real estate loans, and installment and other consumer loans, the Company’s credit quality indicator is performance determined by delinquency status. Delinquency status is updated daily by the Company’s loan system.

As a result of adopting ASU 2011-2, the Company reassessed all loan/lease modifications that occurred on or after January 1, 2011 for identification as a troubled debt restructuring. The Company identified no additional loans/leases as troubled debt restructurings.

For each class of financing receivable, the following presents the number and recorded investment of troubled debt restructurings, by type of concession, that were restructured during the three and nine months ended September 30, 2011.

	For the three months ended September 30, 2011						For the nine months ended September 30, 2011
Classes of Loans/Leases	Number of TDRs		Pre-Modification Recorded Investment		Post-Modification Recorded Investment		Number of TDRs		Pre-Modification Recorded Investment		Post-Modification Recorded Investment

CONCESSION - Extension of maturity
Commercial and Industrial		-	$	-	$	-		-	$	-	$	-
Commercial Real Estate
Owner-Occupied Commercial Real Estate		-		-		-		-		-		-
Commercial Construction, Land Development, and Other Land		-		-		-		-		-		-
Other Non Owner-Occupied Commercial Real Estate		-		-		-		1		2,500,530		2,500,530
Direct Financing Leases		-		-		-		-		-		-
Residential Real Estate		-		-		-		-		-		-
Installment and Other Consumer		-		-		-		-		-		-
		-	$	-	$	-		1	$	2,500,530	$	2,500,530


CONCESSION - Significant payment delay
Commercial and Industrial		-	$	-	$	-		-	$	-	$	-
Commercial Real Estate
Owner-Occupied Commercial Real Estate		-		-		-		-		-		-
Commercial Construction, Land Development, and Other Land		-		-		-		-		-		-
Other Non Owner-Occupied Commercial Real Estate		-		-		-		-		-		-
Direct Financing Leases		-		-		-		2		619,114		619,114
Residential Real Estate		-		-		-		-		-		-
Installment and Other Consumer		-		-		-		-		-		-
		-	$	-	$	-		2	$	619,114	$	619,114

There was no financial impact for charge-offs, principal forgiveness, or foregone interest for the troubled debt restructurings included in the previous table. The financial impact for specific reserves was not significant for the troubled debt restructurings included in the previous table.

For the nine months ended September 30, 2011, none of the Company’s troubled debt restructurings have redefaulted within 12 months subsequent to restructure where default is defined as delinquency of 90 days or more and/or placement on nonaccrual status.