**Exhibit 14**

 

**LOGAN COUNTY BANCSHARES, INC.**

**CODE OF ETHICS FOR SENIOR FINANCIAL OFFICERS**

 

Asleaders of Logan County Bancshares, Inc. and its subsidiaries (collectively,the “Corporation”), the President and Chief Executive Officer and VicePresident and Chief Financial Officer (collectively, the “Senior FinancialOfficers”) are expected to set an appropriate example of behavior for theCorporation. The Senior Financial Officers are expected to conduct business andact in an honest and ethical manner at all times. In this regard, the SeniorFinancial Officers have the following responsibilities and ethical obligations:

 

**•****                  Regulatory and Public Reporting.**Withinthe scope of his or her duties, provide, or cause to be provided, full, fair,accurate, timely and understandable disclosure in reports and documents thatthe Corporation files with or submits to the to the Securities and ExchangeCommission (“SEC”) and in other public communications. Accordingly, each SeniorFinancial Officer is required to comply with the Corporation’s disclosurecontrols and procedures and internal control over financial reporting. Inaddition, Senior Financial Officers are responsible for ensuring that financialrecords are maintained in accordance with generally accepted accounting principlesand any other applicable accounting rules and regulations. Each SeniorFinancial Officer should promptly report to the General Counsel and/or theAudit Committee of the Corporation’s Board of Directors (the “Audit Committee”)any material information of which he or she may become aware that could affectthe disclosures made by the Corporation in its filings with the SEC and inother public communications.

 

**•****                 ****Reporting Deficiencies andFraud.**Promptly report tothe General Counsel and/or the Audit Committee any information concerning (1)significant deficiencies in the design or operation of the Corporation’sinternal control over financial reporting that could adversely affect theCorporation’s ability to record, process, summarize, and report financial data and (2) any fraud, whether or notmaterial, that involves management or other employees who have a significantrole in the Corporation’s financial reporting, disclosures, or internal controlover financial reporting.

 

**•****                 ****Corporate Opportunities.**Each Senior Financial Officer is prohibitedfrom taking for himself or herself personally opportunities that are discoveredthrough the use of corporate property, information, or position.  No Senior Financial Officer may usecorporate property, information, or position for improper personal gain orcompete with the Corporation directly or indirectly.

 

**•****                 ****Protection and Proper Use ofCorporation Assets.**EachSenior Financial Officer should endeavor to protect the Corporation’s assetsand ensure their efficient use.  Theft,carelessness, and waste have a direct impact on the Corporation’s profitability.  Corporation equipment should be used only for legitimate businesspurposes, though incidental personal use, except in connection with personalpolitical activities, may be permitted.

 

**•****                 ****Fair Dealing.**Each Senior Financial Officer should endeavorto respect the rights of and deal fairly with the Corporation’s clients,suppliers, competitors, and employees. No Senior Financial Officer should takeunfair advantage of anyone through manipulation, concealment, abuse ofprivileged information, misrepresentation of material facts, or any other intentional unfair-dealing practice.

 

**•****                 ****Reporting Code and LegalViolations.**Promptly reportto the General Counsel and/or the CEO any information concerning any violationof this Code by any other Senior Financial Officer and

 

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anyinformation concerning evidence of a material violation of securities laws orother laws, rules, or regulations applicable to the Corporation and thebusiness operation of the Corporation or any agent thereof.  The Corporation will not permit retaliationfor reporting any violation or potential violation of this Code made in goodfaith.

 

**•****                 ****Disciplinary Measures**. Any violation or potential violation of this Code by a SeniorFinancial Officer shall be reported to the Board of Directors, and the Boardshall take action reasonably designed to deter wrongdoing and to promoteaccountability by Senior Financial Officers for adherence to this Code.Following investigation by the Board, written notice shall be given to theSenior Financial Officer involved if and when the Board determines that aviolation of this Code of Ethics has occurred or that a potential violation mayoccur. In such event, the written notice shall state the findings of the Boardand shall include, as appropriate, any corrective actions, which may include,without limitation, censure by the Board, demotion or reassignment of theSenior Financial Officer involved, suspension with or without pay or benefits,and/or termination of employment. In determining the appropriate correctiveaction in a particular case, the Board, or its designee, shall take intoaccount all relevant information, including the nature and severity of theviolation or potential violation, whether the violation or potential violationwas a single occurrence or involved repeated occurrences, whether the violationor potential violation appears to have been intentional or inadvertent, whetherthe Senior Financial Officer involved had been advised prior to the violationor potential violation as to the proper course of action, and whether or notthe Senior Financial Officer had committed other violations or potentialviolations in the past. In cases of illegal activity or wrongdoing, the Board,or its designee, will notify the appropriate legal authorities.

 

**•****                 ****Waiver or Modification of Code for Senior Financial Officers**. A request by a Senior Financial Officer fora waiver of or exception to this Code, or modification or amendment thereto,shall be directed to, and shall only be granted by, the Board or a designatedBoard committee. Any such waivers will be disclosed as required by law or SECregulation.

 

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