| Virginia(State or other jurisdiction ofincorporation or organization)                    | 54-1647596(I.R.S. EmployerIdentification No.) |
|------------------------------------------------------------------------------------------|-----------------------------------------------|
|  113 West Main StreetIndependence, Virginia(Address of principal executive offices) |   24348(Zip Code)                   |

| Large accelerated filer   £                                           | Accelerated filer   £    |
|-------------------------------------------------------------------------------------------|----------------------------------------------|
| Non-accelerated filer   £ (Do not check if smaller reporting company) | Smaller reporting company   R |

----

| PART I     | FINANCIAL INFORMATION                                                               |                              |
|------------|-------------------------------------------------------------------------------------|-----------------------------------|
|       |                                                                                |                              |   |
| Item 1.    | Financial Statements                                                                |                              |
|       |                                                                                |                              |   |
|       | Consolidated Balance Sheets—March 31, 2011 (Unaudited)                        |                              |
|       |                                                                                | and December 31, 2010 (Audited)   | 3 |
|       |                                                                                |                              |   |
|       | Unaudited Consolidated Statements of Income—Three Months Ended                |                              |
|       |                                                                                | March 31, 2011 and March 31, 2010 | 4 |
|       |                                                                                |                              |   |
|       | Consolidated Statements of Changes in Stockholders’ Equity—Three Months |                              |
|       | Ended March 31, 2011 (Unaudited) and Year Ended December 31, 2010 (Audited)         | 5                                 |
|       |                                                                                |                              |   |
|       | Unaudited Consolidated Statements of Cash Flows—Three Months Ended            |                              |
|       |                                                                                | March 31, 2011 and March 31, 2010 | 6 |
|       |                                                                                |                              |   |
|       | Notes to Consolidated Financial Statements                                          | 7                                 |
|       |                                                                                |                              |   |
| Item 2.    | Management’s Discussion and Analysis of Financial Condition                   |                              |
|       |                                                                                | and Results of Operations         | 22 |
|       |                                                                                |                              |   |
| Item 3.    | Quantitative and Qualitative Disclosures about Market Risk                          | 26                                |
|       |                                                                                |                              |   |
| Item 4.    | Controls and Procedures                                                             | 27                                |
|       |                                                                                |                              |   |
| PART II    | OTHER INFORMATION                                                                   |                              |
|       |                                                                                |                              |   |
| Item 1.    | Legal Proceedings                                                                   | 28                                |
|       |                                                                                |                              |   |
| Item 1A.   | Risk Factors                                                                        | 28                                |
|       |                                                                                |                              |   |
| Item 2.    | Unregistered Sales of Equity Securities and Use of Proceeds                         | 28                                |
|       |                                                                                |                              |   |
| Item 3.    | Defaults Upon Senior Securities                                                     | 28                                |
|       |                                                                                |                              |   |
| Item 4.    | Removed and Reserved                                                                | 28                                |
|       |                                                                                |                              |   |
| Item 5.    | Other Information                                                                   | 28                                |
|       |                                                                                |                              |   |
| Item 6.    | Exhibits                                                                            | 28                                |
|       |                                                                                |                              |   |
| Signatures | 29                                                                                  |

----

|                                                     |   | March 31,   |        |   | December 31, |   |
|----------------------------------------------------------|--------|-------------|-------------|--------|--------------|--------|
|                                                     |   | 2011        |        |   | 2010         |   |
|                                                     |   | (Unaudited) |        |   | (Audited)    |   |
| Assets                                                   |   |        |        |   |         |   |
|                                                     |   |        |        |   |         |   |
| Cash and due from banks                                  |   | $           | 8,292,743   |   |         | $      | 9,200,552 |   |
| Interest-bearing deposits with banks                     |   |        | 3,307,911   |   |         |   | 3,305,724 |   |
| Federal funds sold                                       |   |        | 34,805,770  |   |         |   | 27,745,592 |   |
| Investment securities available for sale                 |   |        | 47,963,662  |   |         |   | 46,841,247 |   |
| Investment securities held to maturity                   |   |        |        |   |         |   |   |   |
| (fair value approximately $893,276 at March 31, 2011,    |   |        |        |   |         |   |   |   |
| and $888,013 at December 31,  2010)            |   |        | 856,026     |   |         |   | 850,590 |   |
| Restricted equity securities                             |   |        | 1,617,300   |   |         |   | 1,617,300 |   |
| Loans, net of allowance for loan losses of $4,884,601 at |   |        |        |   |         |   |   |   |
| March 31, 2011 and $4,542,420 at December 31, 2010       |   |        | 238,285,543 |   |         |   | 248,512,958 |   |
| Cash value of life insurance                             |   |        | 8,514,595   |   |         |   | 8,433,596 |   |
| Foreclosed assets                                        |   |        | 4,989,726   |   |         |   | 3,256,725 |   |
| Property and equipment, net                              |   |        | 10,571,525  |   |         |   | 10,575,133 |   |
| Accrued interest receivable                              |   |        | 2,069,605   |   |         |   | 2,131,943 |   |
| Other assets                                             |   |        | 5,535,279   |   |         |   | 5,745,728 |   |
|                                                     |   | $           | 366,809,685 |   |         | $      | 368,217,088 |   |
| Liabilities and Stockholders’ Equity               |   |        |        |   |         |   |   |   |
|                                                     |   |        |        |   |         |   |   |   |
| Liabilities                                              |   |        |        |   |         |   |   |   |
| Deposits                                                 |   |        |        |   |         |   |   |   |
| Noninterest-bearing                                      |   | $           | 45,048,206  |   |         | $      | 42,487,778 |   |
| Interest-bearing                                         |   |        | 265,596,651 |   |         |   | 269,329,080 |   |
| Total deposits                                           |   |        | 310,644,857 |   |         |   | 311,816,858 |   |
|                                                     |   |        |        |   |         |   |   |   |
| Long-term debt                                           |   |        | 25,000,000  |   |         |   | 25,000,000 |   |
| Accrued interest payable                                 |   |        | 709,453     |   |         |   | 311,647 |   |
| Other liabilities                                        |   |        | 374,834     |   |         |   | 678,813 |   |
|                                                     |   |        | 336,729,144 |   |         |   | 337,807,318 |   |
|                                                     |   |        |        |   |         |   |   |   |
| Commitments and contingencies                            |   |        | -           |   |         |   | - |   |
|                                                     |   |        |        |   |         |   |   |   |
| Stockholders’ equity                               |   |        |        |   |         |   |   |   |
| Preferred stock, $25 par value; 500,000                  |   |        |        |   |         |   |   |   |
| shares authorized; none issued                           |   |        | -           |   |         |   | - |   |
| Common stock, $1.25 par value; 2,000,000 shares          |   |        |        |   |         |   |   |   |
| authorized; 1,718,968 shares issued                      |   |        |        |   |         |   |   |   |
| in 2011 and 2010, respectively                           |   |        | 2,148,710   |   |         |   | 2,148,710 |   |
| Surplus                                                  |   |        | 521,625     |   |         |   | 521,625 |   |
| Retained earnings                                        |   |        | 28,500,405  |   |         |   | 28,975,488 |   |
| Accumulated other comprehensive income (loss)            |   |        | (1,090,199  | )      |         |   | (1,236,053 | ) |
|                                                     |   |        | 30,080,541  |   |         |   | 30,409,770 |   |
|                                                     |   | $           | 366,809,685 |   |         | $      | 368,217,088 |   |

----

|                                                      |   | Three Months Ended |      |
|-----------------------------------------------------------|--------|--------------------|-----------|
|                                                      |   | March 31,          |      |
|                                                      |   | 2011               |      |   | 2010 |   |
|                                                      |   | (Unaudited)        |      |   | (Unaudited) |   |
|                                                      |   |               |      |   |   |   |
| Interest income                                           |   |               |      |   |   |   |
| Loans and fees on loans                                   |   | $                  | 3,802,684 |   |   | $ | 4,305,442 |   |
| Interest-bearing deposits in banks                        |   |               | 1,742     |   |   |   | 210 |   |
| Federal funds sold                                        |   |               | 16,750    |   |   |   | 9,291 |   |
| Investment securities:                                    |   |               |      |   |   |   |   |   |
| Taxable                                                   |   |               | 257,342   |   |   |   | 336,277 |   |
| Exempt from federal income tax                            |   |               | 117,719   |   |   |   | 93,740 |   |
|                                                      |   |               | 4,196,237 |   |   |   | 4,744,960 |   |
|                                                      |   |               |      |   |   |   |   |   |
| Interest expense                                          |   |               |      |   |   |   |   |   |
| Deposits                                                  |   |               | 1,089,694 |   |   |   | 1,467,909 |   |
| Interest on borrowings                                    |   |               | 260,463   |   |   |   | 260,463 |   |
|                                                      |   |               | 1,350,157 |   |   |   | 1,728,372 |   |
|     Net interest income               |   |               | 2,846,080 |   |   |   | 3,016,588 |   |
|                                                      |   |               |      |   |   |   |   |   |
| Provision for loan losses                                 |   |               | 1,306,387 |   |   |   | 286,508 |   |
| Net interest income after                                 |   |               |      |   |   |   |   |   |
| provision for loan losses                                 |   |               | 1,539,693 |   |   |   | 2,730,080 |   |
|                                                      |   |               |      |   |   |   |   |   |
| Noninterest income                                        |   |               |      |   |   |   |   |   |
| Service charges on deposit accounts                       |   |               | 243,218   |   |   |   | 232,738 |   |
| Increase in cash value of life insurance                  |   |               | 81,000    |   |   |   | 75,000 |   |
| Net realized gains on securities                          |   |               | 87,856    |   |   |   | 35,957 |   |
| Other income                                              |   |               | 188,501   |   |   |   | 164,969 |   |
|                                                      |   |               | 600,575   |   |   |   | 508,664 |   |
|                                                      |   |               |      |   |   |   |   |   |
| Noninterest expense                                       |   |               |      |   |   |   |   |   |
| Salaries and employee benefits                            |   |               | 1,507,080 |   |   |   | 1,565,785 |   |
| Occupancy expense                                         |   |               | 124,931   |   |   |   | 136,128 |   |
| Equipment expense                                         |   |               | 167,249   |   |   |   | 195,738 |   |
| Other expense                                             |   |               | 901,194   |   |   |   | 813,009 |   |
|                                                      |   |               | 2,700,454 |   |   |   | 2,710,660 |   |
|     Income (loss) before income taxes |   |               | (560,186  | ) |   |   | 528,084 |   |
|                                                      |   |               |      |   |   |   |   |   |
| Income tax expense (benefit)                              |   |               | (257,000  | ) |   |   | 119,000 |   |
|     Net income (loss)                 |   | $                  | (303,186  | ) |   | $ | 409,084 |   |
|                                                      |   |               |      |   |   |   |   |   |
| Basic earnings (loss)  per share                |   | $                  | (0.18     | ) |   | $ | 0.24 |   |
| Weighted average shares outstanding                       |   |               | 1,718,968 |   |   |   | 1,718,968 |   |
| Dividends declared per share                              |   | $                  | 0.10      |   |   | $ | 0.10 |   |

----

|                                      |   |         |      |   |   |   |      |     |   |   |          |   |   | Accumulated   |       |   |   |   |
|-------------------------------------------|--------|--------------|-----------|--------|--------|--------|-----------|----------|--------|--------|---------------|--------|--------|---------------|------------|--------|--------|--------|
|                                      |   |         |      |   |   |   |      |     |   |   |          |   |   | Other         |       |   |   |   |
|                                      |   | Common Stock |      |   |   |   |      | Retained |   |   | Comprehensive |   |   |          |       |
|                                      |   | Shares       |      |   | Amount |   |      | Surplus  |   |   | Earnings      |   |   | Income (Loss) |       |   | Total  |   |
|                                      |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |
| Balance, December 31, 2009                |   |         | 1,718,968 |   |   | $      | 2,148,710 |     |   | $      | 521,625       |   |   | $             | 28,497,214 |   |   | $      | (627,604 | ) |   | $ | 30,539,945 |   |
|                                      |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| Comprehensive income                      |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| Net income                                |   |         | -         |   |   |   | -         |     |   |   | -             |   |   |          | 1,165,861  |   |   |   | - |   |   |   | 1,165,861 |   |
| Net change in pension reserve             |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| net of income taxes of ($60,010)          |   |         | -         |   |   |   | -         |     |   |   | -             |   |   |          | -          |   |   |   | (116,490 | ) |   |   | (116,490 | ) |
| Net change in unrealized                  |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| loss on investment                        |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| securities available for                  |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| sale, net of taxes of ($58,196)           |   |         | -         |   |   |   | -         |     |   |   | -             |   |   |          | -          |   |   |   | (112,967 | ) |   |   | (112,967 | ) |
| Reclassification adjustment,              |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| net of income taxes of ($195,239)         |   |         | -         |   |   |   | -         |     |   |   | -             |   |   |          | -          |   |   |   | (378,992 | ) |   |   | (378,992 | ) |
| Total comprehensive income                |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   | 557,412 |   |
|                                      |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| Dividends paid                            |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| ($.40 per share)                          |   |         | -         |   |   |   | -         |     |   |   | -             |   |   |          | (687,587   | )      |   |   | - |   |   |   | (687,587 | ) |
| Balance, December 31, 2010                |   |         | 1,718,968 |   |   |   | 2,148,710 |     |   |   | 521,625       |   |   |          | 28,975,488 |   |   |   | (1,236,053 | ) |   |   | 30,409,770 |   |
|                                      |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| Comprehensive loss                        |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| Net loss                                  |   |         | -         |   |   |   | -         |     |   |   | -             |   |   |          | (303,186   | )      |   |   | - |   |   |   | (303,186 | ) |
| Net change in unrealized                  |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| loss on investment                        |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| securities available for                  |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| sale, net of taxes of  $105,008 |   |         | -         |   |   |   | -         |     |   |   | -             |   |   |          | -          |   |   |   | 203,839 |   |   |   | 203,839 |   |
| Reclassification adjustment,              |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| net of income taxes of ($29,871)          |   |         | -         |   |   |   | -         |     |   |   | -             |   |   |          | -          |   |   |   | (57,985 | ) |   |   | (57,985 | ) |
| Total comprehensive loss                  |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   | (157,332 | ) |
|                                      |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| Dividends paid                            |   |         |      |   |   |   |      |     |   |   |          |   |   |          |       |   |   |   |   |   |   |   |   |   |
| ($.10 per share)                          |   |         | -         |   |   |   | -         |     |   |   | -             |   |   |          | (171,897   | )      |   |   | - |   |   |   | (171,897 | ) |
| Balance, March 31, 2011                   |   |         | 1,718,968 |   |   | $      | 2,148,710 |     |   | $      | 521,625       |   |   | $             | 28,500,405 |   |   | $      | (1,090,199 | ) |   | $ | 30,080,541 |   |

----

|                                                                  |   | Three Months Ended |       |
|-----------------------------------------------------------------------|--------|--------------------|------------|
|                                                                  |   | March 31,          |       |
|                                                                  |   | 2011               |       |   | 2010 |   |
|                                                                  |   | (Unaudited)        |       |   | (Unaudited) |   |
|                                                                  |   |               |       |   |   |   |
| Cash flows from operating activities                                  |   |               |       |   |   |   |
| Net income (loss)                                                     |   | $                  | (303,186   | ) |   | $ | 409,084 |   |
| Adjustments to reconcile net income (loss)                            |   |               |       |   |   |   |   |   |
| to net cash provided by operations:                                   |   |               |       |   |   |   |   |   |
| Depreciation and amortization                                         |   |               | 186,000    |   |   |   | 190,500 |   |
| Provision for loan losses                                             |   |               | 1,306,387  |   |   |   | 286,508 |   |
| Deferred income taxes                                                 |   |               | (128,000   | ) |   |   | (82,000 | ) |
| Net realized gains on securities                                      |   |               | (87,856    | ) |   |   | (35,957 | ) |
| Accretion of discount on securities, net of                           |   |               |       |   |   |   |   |   |
| amortization of premiums                                              |   |               | 99,344     |   |   |   | 51,933 |   |
| Deferred compensation                                                 |   |               | (5,364     | ) |   |   | (8,512 | ) |
| Net realized loss on foreclosed assets                                |   |               | -          |   |   |   | 275 |   |
| Changes in assets and liabilities:                                    |   |               |       |   |   |   |   |   |
| Cash value of life insurance                                          |   |               | (81,000    | ) |   |   | (75,000 | ) |
| Accrued income                                                        |   |               | 62,338     |   |   |   | 331,575 |   |
| Other assets                                                          |   |               | 263,312    |   |   |   | 123,430 |   |
| Accrued interest payable                                              |   |               | 397,806    |   |   |   | 400,291 |   |
| Other liabilities                                                     |   |               | (298,615   | ) |   |   | 355,792 |   |
| Net cash provided by operating activities                             |   |               | 1,411,166  |   |   |   | 1,947,919 |   |
|                                                                  |   |               |       |   |   |   |   |   |
| Cash flows from investing activities                                  |   |               |       |   |   |   |   |   |
| Purchases of available-for-sale investment securities                 |   |               | (7,652,495 | ) |   |   | (15,417,695 | ) |
| Sales of available-for-sale investment securities                     |   |               | 2,862,074  |   |   |   | 1,056,563 |   |
| Maturities/calls/paydowns of available-for-sale investment securities |   |               | 3,872,073  |   |   |   | 13,706,276 |   |
| Net decrease in loans                                                 |   |               | 7,188,028  |   |   |   | 3,491,259 |   |
| Proceeds from the sale of foreclosed assets                           |   |               | -          |   |   |   | 22,224 |   |
| Purchases of property and equipment, net of sales                     |   |               | (182,392   | ) |   |   | (91,422 | ) |
| Net cash provided by investing activities                             |   |               | 6,087,288  |   |   |   | 2,767,205 |   |
|                                                                  |   |               |       |   |   |   |   |   |
| Cash flows from financing activities                                  |   |               |       |   |   |   |   |   |
| Net decrease in deposits                                              |   |               | (1,172,001 | ) |   |   | (1,767,880 | ) |
| Dividends paid                                                        |   |               | (171,897   | ) |   |   | (171,897 | ) |
| Net cash used in financing activities                                 |   |               | (1,343,898 | ) |   |   | (1,939,777 | ) |
| Net increase in cash and cash equivalents                             |   |               | 6,154,556  |   |   |   | 2,775,347 |   |
|                                                                  |   |               |       |   |   |   |   |   |
| Cash and cash equivalents, beginning                                  |   |               | 40,251,868 |   |   |   | 28,294,122 |   |
| Cash and cash equivalents, ending                                     |   | $                  | 46,406,424 |   |   | $ | 31,069,469 |   |
|                                                                  |   |               |       |   |   |   |   |   |
| Supplemental disclosure of cash flow information                      |   |               |       |   |   |   |   |   |
| Interest paid                                                         |   | $                  | 952,351    |   |   | $ | 1,328,081 |   |
| Taxes paid                                                            |   | $                  | 43,000     |   |   | $ | - |   |
| Transfers of loans to foreclosed properties                           |   | $                  | 1,733,000  |   |   | $ | - |   |

----

----

|                              |   | Amortized |       |   | Unrealized |   |    | Unrealized |   |   | Fair    |   |
|-----------------------------------|--------|-----------|------------|--------|------------|--------|---------|------------|--------|--------|---------|--------|
|                              |   | Cost      |       |   | Gains      |   |    | Losses     |   |   | Value   |   |
|                              |   |      |       |   |       |   |    |       |   |   |    |   |
| March 31, 2011                    |   |      |       |   |       |   |    |       |   |   |    |   |
| Available for sale:               |   |      |       |   |       |   |    |       |   |   |    |   |
| U.S. Government agency securities |   | $         | 1,160,415  |   |       | $      | 62,136  |       |   | $      | -       |   |   | $ | 1,222,551 |   |
| Government sponsored enterprises  |   |      | 25,435,738 |   |       |   | 168,669 |       |   |   | 415,754 |   |   |   | 25,188,653 |   |
| Mortgage-backed securities        |   |      | 10,122,059 |   |       |   | 244,240 |       |   |   | 17,309  |   |   |   | 10,348,990 |   |
| State and municipal securities    |   |      | 11,190,238 |   |       |   | 194,840 |       |   |   | 181,610 |   |   |   | 11,203,468 |   |
|                              |   | $         | 47,908,450 |   |       | $      | 669,885 |       |   | $      | 614,673 |   |   | $ | 47,963,662 |   |
| Held to maturity:                 |   |      |       |   |       |   |    |       |   |   |    |   |   |   |   |   |
| State and municipal securities    |   | $         | 856,026    |   |       | $      | 37,250  |       |   | $      | -       |   |   | $ | 893,276 |   |
|                              |   |      |       |   |       |   |    |       |   |   |    |   |   |   |   |   |
| December 31, 2010                 |   |      |       |   |       |   |    |       |   |   |    |   |   |   |   |   |
| Available for sale:               |   |      |       |   |       |   |    |       |   |   |    |   |   |   |   |   |
| U.S. Government agency securities |   | $         | 1,231,318  |   |       | $      | 60,277  |       |   | $      | -       |   |   | $ | 1,291,595 |   |
| Government sponsored enterprises  |   |      | 23,848,397 |   |       |   | 151,337 |       |   |   | 530,368 |   |   |   | 23,469,366 |   |
| Mortgage-backed securities        |   |      | 10,254,088 |   |       |   | 394,732 |       |   |   | 18,126  |   |   |   | 10,630,694 |   |
| State and municipal securities    |   |      | 11,673,223 |   |       |   | 81,369  |       |   |   | 305,000 |   |   |   | 11,449,592 |   |
|                              |   | $         | 47,007,026 |   |       | $      | 687,715 |       |   | $      | 853,494 |   |   | $ | 46,841,247 |   |
| Held to maturity:                 |   |      |       |   |       |   |    |       |   |   |    |   |   |   |   |   |
| State and municipal securities    |   | $         | 850,590    |   |       | $      | 37,423  |       |   | $      | -       |   |   | $ | 888,013 |   |

----

|                                |   | Less Than 12 Months |       |   | 12 Months or More |   |    | Total  |   |
|-------------------------------------|--------|---------------------|------------|--------|-------------------|--------|---------|--------|--------|
|                                |   | Fair                |       |   | Unrealized        |   |    | Fair   |   |   | Unrealized |   |   | Fair |   |   | Unrealized |   |
|                                |   | Value               |       |   | Losses            |   |    | Value  |   |   | Losses |   |   | Value |   |   | Losses |   |
|                                |   |                |       |   |              |   |    |   |   |   |   |   |   |   |   |   |   |   |
| March 31, 2011                      |   |                |       |   |              |   |    |   |   |   |   |   |   |   |   |   |   |   |
| Available for sale                  |   |                |       |   |              |   |    |   |   |   |   |   |   |   |   |   |   |   |
| Government sponsored enterprises    |   | $                   | 19,036,805 |   |              | $      | 415,754 |   |   | $ | - |   |   | $ | - |   |   | $ | 19,036,805 |   |   | $ | 415,754 |   |
| Mortgage-backed securities          |   |                | 3,524,911  |   |              |   | 17,309  |   |   |   | - |   |   |   | - |   |   |   | 3,524,911 |   |   |   | 17,309 |   |
| State and municipal securities      |   |                | 5,257,993  |   |              |   | 181,610 |   |   |   | - |   |   |   | - |   |   |   | 5,257,993 |   |   |   | 181,610 |   |
| Total securities available for sale |   | $                   | 27,819,709 |   |              | $      | 614,673 |   |   | $ | - |   |   | $ | - |   |   | $ | 27,819,709 |   |   | $ | 614,673 |   |
|                                |   |                |       |   |              |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                |   |                |       |   |              |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| December 31, 2010                   |   |                |       |   |              |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Available for sale:                 |   |                |       |   |              |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Government sponsored enterprisis    |   | $                   | 13,870,450 |   |              | $      | 493,346 |   |   | $ | 32,178 |   |   | $ | 37,022 |   |   | $ | 13,902,628 |   |   | $ | 530,368 |   |
| Mortgage-backed securities          |   |                | 2,801,081  |   |              |   | 18,126  |   |   |   | - |   |   |   | - |   |   |   | 2,801,081 |   |   |   | 18,126 |   |
| State and municipal securities      |   |                | 5,902,003  |   |              |   | 305,000 |   |   |   | - |   |   |   | - |   |   |   | 5,902,003 |   |   |   | 305,000 |   |
| Total securities available for sale |   | $                   | 22,573,534 |   |              | $      | 816,472 |   |   | $ | 32,178 |   |   | $ | 37,022 |   |   | $ | 22,605,712 |   |   | $ | 853,494 |   |

----

|            |   | 2011   |   |   | 2010   |   |
|-----------------|--------|--------|--------|--------|--------|--------|
|            |   |   |   |   |   |   |
| Realized gains  |   | $      | 96,971 |   |   |   | 35,957 |   |
| Realized losses |   |   | (9,115 | )      |   |   | - |   |
|            |   | $      | 87,856 |   |   | $      | 35,957 |   |

|                                   |   | Available for Sale |       |   | Held to Maturity |   |
|----------------------------------------|--------|--------------------|------------|--------|------------------|--------|
|                                   |   | Amortized          |       |   | Fair             |   |   | Amortized |   |   | Fair |   |
|                                   |   | Cost               |       |   | Value            |   |   | Cost |   |   | Value |   |
|                                   |   |               |       |   |             |   |   |   |   |   |   |   |
| Due in one year or less                |   | $                  | -          |   |             | $      | - |   |   | $ | - |   |   |   | - |   |
| Due after one year through five years  |   |               | 3,715,721  |   |             |   | 3,849,435 |   |   |   | 372,376 |   |   |   | 391,673 |   |
| Due after five years through ten years |   |               | 15,431,296 |   |             |   | 15,328,739 |   |   |   | - |   |   |   | - |   |
| Due after ten years                    |   |               | 28,761,433 |   |             |   | 28,785,488 |   |   |   | 483,650 |   |   |   | 501,603 |   |
|                                   |   | $                  | 47,908,450 |   |             | $      | 47,963,662 |   |   | $ | 856,026 |   |   | $ | 893,276 |   |

----

|                              |   | Commercial   |       |   |       |   |       | Construction |   |   |       |   |   |        |       |   |        |   |        |   |   |
|-----------------------------------|--------|--------------|------------|--------|------------|--------|------------|--------------|--------|--------|------------|--------|--------|-------------|------------|--------|-------------|--------|-------------|--------|--------|
|                              |   | &        |       |   | Commercial |   |       | &        |   |   |       |   |   |        |       |   | Consumer    |   |        |   |   |
|                              |   | Agricultural |       |   | Mortgage   |   |       | Development  |   |   | Farmland   |   |   | Residential |       |   | & Other |   |        | Total  |   |
|                              |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |
| Allowance for loan losses         |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |
|                              |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |
| Balance, January 1, 2011          |   | $            | 436,872    |   |       | $      | 777,515    |         |   | $      | 526,231    |   |   | $           | 710,368    |   |        | $      | 1,861,953   |   |   | $ | 229,481 |   |   | $ | 4,542,420 |   |
| Charge-offs                       |   |         | (112,146   | )      |       |   | -          |         |   |   | (20,000    | )      |   |        | -          |   |        |   | (789,463    | )      |   |   | (60,003 | ) |   |   | (981,612 | ) |
| Recoveries                        |   |         | 5,663      |   |       |   | 197        |         |   |   | -          |   |   |        | -          |   |        |   | 2,489       |   |   |   | 9,057 |   |   |   | 17,406 |   |
| Provision                         |   |         | 136,053    |   |       |   | 37,503     |         |   |   | 201,954    |   |   |        | 48,068     |   |        |   | 826,452     |   |   |   | 56,357 |   |   |   | 1,306,387 |   |
| Balance, March 31, 2011           |   | $            | 466,442    |   |       | $      | 815,215    |         |   | $      | 708,185    |   |   | $           | 758,436    |   |        | $      | 1,901,431   |   |   | $ | 234,892 |   |   | $ | 4,884,601 |   |
|                              |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| Balance, January 1, 2010          |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   | $ | 3,555,273 |   |
| Provision charged to expense      |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   | 286,508 |   |
| Recoveries of amounts charged off |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   | 39,101 |   |
| Amounts charged off               |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   | (135,948 | ) |
| Balance, March 31, 2010           |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   | $ | 3,744,934 |   |
|                              |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| March 31, 2011                    |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| Ending balance: individually      |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| evaluated for impairment          |   | $            | 10,798     |   |       | $      | 44,640     |         |   | $      | 175,347    |   |   | $           | 13,535     |   |        | $      | 54,809      |   |   | $ | - |   |   | $ | 299,129 |   |
| Ending balance: collectively      |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| evaluated for impairment          |   | $            | 455,644    |   |       | $      | 770,575    |         |   | $      | 532,838    |   |   | $           | 744,901    |   |        | $      | 1,846,622   |   |   | $ | 234,892 |   |   | $ | 4,585,472 |   |
|                              |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| Loans outstanding:                |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| Ending balance                    |   | $            | 15,738,688 |   |       | $      | 39,520,547 |         |   | $      | 19,966,290 |   |   | $           | 34,365,645 |   |        | $      | 121,444,930 |   |   | $ | 12,134,044 |   |   | $ | 243,170,144 |   |
| Ending balance: individually      |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| evaluated for impairment          |   | $            | 107,979    |   |       | $      | 2,585,268  |         |   | $      | 1,970,174  |   |   | $           | 3,745,199  |   |        | $      | 3,652,186   |   |   | $ | - |   |   | $ | 12,060,806 |   |
| Ending balance: collectively      |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| evaluated for impairment          |   | $            | 15,630,709 |   |       | $      | 36,935,279 |         |   | $      | 17,996,116 |   |   | $           | 30,620,446 |   |        | $      | 117,792,744 |   |   | $ | 12,134,044 |   |   | $ | 231,109,338 |   |
|                              |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| March 31, 2010                    |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| Allowance for loan losses:        |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| Ending balance                    |   | $            | 594,340    |   |       | $      | 593,065    |         |   | $      | 440,684    |   |   | $           | 509,631    |   |        | $      | 1,407,302   |   |   | $ | 199,912 |   |   | $ | 3,744,934 |   |
| Ending balance: individually      |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| evaluated for impairment          |   | $            | 8,209      |   |       | $      | 4,192      |         |   | $      | 38,500     |   |   | $           | 10,800     |   |        | $      | 9,726       |   |   | $ | - |   |   | $ | 71,427 |   |
| Ending balance: collectively      |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| evaluated for impairment          |   | $            | 586,131    |   |       | $      | 588,873    |         |   | $      | 402,184    |   |   | $           | 498,831    |   |        | $      | 1,397,576   |   |   | $ | 199,912 |   |   | $ | 3,673,507 |   |
|                              |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| Loans outstanding:                |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| Ending balance                    |   | $            | 19,788,936 |   |       | $      | 41,191,937 |         |   | $      | 25,772,476 |   |   | $           | 33,395,478 |   |        | $      | 129,521,661 |   |   | $ | 16,924,729 |   |   | $ | 266,595,217 |   |
| Ending balance: individually      |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| evaluated for impairment          |   | $            | 402,522    |   |       | $      | 2,582,820  |         |   | $      | 3,397,897  |   |   | $           | 1,839,820  |   |        | $      | 5,379,044   |   |   | $ | - |   |   | $ | 13,602,103 |   |
| Ending balance: collectively      |   |         |       |   |       |   |       |         |   |   |       |   |   |        |       |   |        |   |        |   |   |   |   |   |   |   |   |   |
| evaluated for impairment          |   | $            | 19,386,414 |   |       | $      | 38,609,117 |         |   | $      | 22,374,579 |   |   | $           | 31,555,658 |   |        | $      | 124,142,617 |   |   | $ | 16,924,729 |   |   | $ | 252,993,114 |   |

----

|                          |   | Loan Grades |        |   |   |   |
|-------------------------------|--------|-------------|-------------|--------|--------|--------|
|                          |   |        |        |   |   |   |   | Special |   |   |   |   |   |   |   |
|                          |   | Pass        |        |   | Watch  |   |   | Mention |   |   | Substandard |   |   | Total |   |
| March 31, 2011                |   |        |        |   |   |   |   |   |   |   |   |   |   |   |   |
| Real Estate Secured:          |   |        |        |   |   |   |   |   |   |   |   |   |   |   |   |
| 1-4 residential construction  |   | $           | 640,051     |   |   | $      | - |   |   | $ | - |   |   | $ | 115,238 |   |   | $ | 755,289 |   |
| Commercial construction       |   |        | 133,200     |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 133,200 |   |
| Loan development &        |   |        |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| other land                    |   |        | 12,504,880  |   |   |   | 1,815,667 |   |   |   | 580,396 |   |   |   | 4,176,858 |   |   |   | 19,077,801 |   |
| Farmland                      |   |        | 24,682,261  |   |   |   | 1,521,717 |   |   |   | 1,694,032 |   |   |   | 6,467,635 |   |   |   | 34,365,645 |   |
| 1-4 residential mortgage      |   |        | 97,000,396  |   |   |   | 2,011,668 |   |   |   | 337,805 |   |   |   | 7,141,813 |   |   |   | 106,491,682 |   |
| Multifamily                   |   |        | 2,840,611   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,840,611 |   |
| Home equity and second        |   |        |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| mortgage                      |   |        | 11,596,902  |   |   |   | 221,303 |   |   |   | - |   |   |   | 294,432 |   |   |   | 12,112,637 |   |
| Commercial mortgage           |   |        | 29,695,850  |   |   |   | 3,317,329 |   |   |   | 568,346 |   |   |   | 5,939,022 |   |   |   | 39,520,547 |   |
| Non-Real Estate Secured:      |   |        |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial & agricultural |   |        | 14,248,186  |   |   |   | 205,336 |   |   |   | 94,373 |   |   |   | 873,858 |   |   |   | 15,421,753 |   |
| Financial institutions        |   |        | -           |   |   |   | - |   |   |   | 316,935 |   |   |   | - |   |   |   | 316,935 |   |
| Civic organizations           |   |        | 403,774     |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 403,774 |   |
| Consumer-auto                 |   |        | 3,883,439   |   |   |   | 11,721 |   |   |   | 2,000 |   |   |   | 122,487 |   |   |   | 4,019,647 |   |
| Consumer-Other                |   |        | 7,585,130   |   |   |   | 22,033 |   |   |   | 24,371 |   |   |   | 79,089 |   |   |   | 7,710,623 |   |
| Total                         |   | $           | 205,214,680 |   |   | $      | 9,126,774 |   |   | $ | 3,618,258 |   |   | $ | 25,210,432 |   |   | $ | 243,170,144 |   |

----

|                          |   | Loan Grades |        |   |   |   |
|-------------------------------|--------|-------------|-------------|--------|--------|--------|
|                          |   |        |        |   |   |   |   | Special |   |   |   |   |   |   |   |
|                          |   | Pass        |        |   | Watch  |   |   | Mention |   |   | Substandard |   |   | Total |   |
|                          |   |        |        |   |   |   |   |   |   |   |   |   |   |   |   |
| December 31, 2010             |   |        |        |   |   |   |   |   |   |   |   |   |   |   |   |
| Real Estate Secured:          |   |        |        |   |   |   |   |   |   |   |   |   |   |   |   |
| 1-4 residential construction  |   | $           | 694,877     |   |   | $      | - |   |   | $ | - |   |   | $ | 115,238 |   |   | $ | 810,115 |   |
| Commercial construction       |   |        | 218,345     |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 218,345 |   |
| Loan development &        |   |        |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| other land                    |   |        | 13,090,447  |   |   |   | 1,734,074 |   |   |   | 545,952 |   |   |   | 4,909,368 |   |   |   | 20,279,841 |   |
| Farmland                      |   |        | 23,512,660  |   |   |   | 1,558,170 |   |   |   | 1,703,049 |   |   |   | 6,451,038 |   |   |   | 33,224,917 |   |
| 1-4 residential mortgage      |   |        | 102,301,105 |   |   |   | 1,049,301 |   |   |   | 200,489 |   |   |   | 8,715,499 |   |   |   | 112,266,394 |   |
| Multifamily                   |   |        | 2,863,816   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,863,816 |   |
| Home equity and second        |   |        |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| mortgage                      |   |        | 12,111,438  |   |   |   | 121,792 |   |   |   | - |   |   |   | 249,603 |   |   |   | 12,482,833 |   |
| Commercial mortgage           |   |        | 30,756,084  |   |   |   | 3,578,944 |   |   |   | 721,327 |   |   |   | 5,285,881 |   |   |   | 40,342,236 |   |
| Non-Real Estate Secured:      |   |        |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial & agricultural |   |        | 15,444,342  |   |   |   | 301,909 |   |   |   | - |   |   |   | 856,636 |   |   |   | 16,602,887 |   |
| Financial institutions        |   |        | -           |   |   |   | - |   |   |   | 323,021 |   |   |   | - |   |   |   | 323,021 |   |
| Civic organizations           |   |        | 471,939     |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 471,939 |   |
| Consumer-auto                 |   |        | 4,447,086   |   |   |   | - |   |   |   | - |   |   |   | 86,576 |   |   |   | 4,533,662 |   |
| Consumer-Other                |   |        | 8,536,033   |   |   |   | 2,123 |   |   |   | - |   |   |   | 97,216 |   |   |   | 8,635,372 |   |
| Total                         |   | $           | 214,448,172 |   |   | $      | 8,346,313 |   |   | $ | 3,493,838 |   |   | $ | 26,767,055 |   |   | $ | 253,055,378 |   |

|                          |   |       |      |   |       |   |      |       |   |   |       |   |   |    |       |   |   |   |        | 90+ Days  |   |   |        |   |
|-------------------------------|--------|------------|-----------|--------|------------|--------|-----------|------------|--------|--------|------------|--------|--------|---------|------------|--------|--------|--------|-------------|-----------|--------|--------|-------------|--------|
|                          |   |       |      |   |       |   |      | 90 Days or |   |   |       |   |   |    |       |   |   |   |        | Past Due  |   |   |        |   |
|                          |   | 30-59 Days |      |   | 60-89 Days |   |      | More Past  |   |   | Total Past |   |   |    |       |   | Total  |   |        | and Still |   |   | Nonaccrual  |   |
|                          |   | Past Due   |      |   | Past Due   |   |      | Due        |   |   | Due        |   |   | Current |       |   | loans  |   |        | Accruing  |   |   | Loans       |   |
| March 31, 2011                |   |       |      |   |       |   |      |       |   |   |       |   |   |    |       |   |   |   |        |      |   |   |        |   |
| Real Estate Secured:          |   |       |      |   |       |   |      |       |   |   |       |   |   |    |       |   |   |   |        |      |   |   |        |   |
| 1-4 residential construction  |   | $          | -         |   |       | $      | -         |       |   | $      | 115,238    |   |   | $       | 115,238    |   |   | $      | 640,051     |      |   | $      | 755,289     |   |   | $ | - |   |   | $ | 115,238 |   |
| Commercial construction       |   |       | -         |   |       |   | -         |       |   |   | -          |   |   |    | -          |   |   |   | 133,200     |      |   |   | 133,200     |   |   |   | - |   |   |   | - |   |
| Loan development &        |   |       |      |   |       |   |      |       |   |   |       |   |   |    |       |   |   |   |        |      |   |   |        |   |   |   |   |   |   |   |   |   |
| other land                    |   |       | 17,545    |   |       |   | 490,539   |       |   |   | 2,094,034  |   |   |    | 2,602,118  |   |   |   | 16,475,683  |      |   |   | 19,077,801  |   |   |   | - |   |   |   | 2,204,591 |   |
| Farmland                      |   |       | 71,494    |   |       |   | 255,669   |       |   |   | 3,754,874  |   |   |    | 4,082,037  |   |   |   | 30,283,608  |      |   |   | 34,365,645  |   |   |   | - |   |   |   | 4,276,996 |   |
| 1-4 residential mortgage      |   |       | 3,092,735 |   |       |   | 1,021,492 |       |   |   | 4,561,812  |   |   |    | 8,676,039  |   |   |   | 97,815,643  |      |   |   | 106,491,682 |   |   |   | 484,278 |   |   |   | 4,235,945 |   |
| Multifamily                   |   |       | -         |   |       |   | -         |       |   |   | -          |   |   |    | -          |   |   |   | 2,840,611   |      |   |   | 2,840,611   |   |   |   | - |   |   |   | - |   |
| Home equity and second        |   |       |      |   |       |   |      |       |   |   |       |   |   |    |       |   |   |   |        |      |   |   |        |   |   |   |   |   |   |   |   |   |
| mortgage                      |   |       | 303,461   |   |       |   | 67,666    |       |   |   | 179,067    |   |   |    | 550,194    |   |   |   | 11,562,443  |      |   |   | 12,112,637  |   |   |   | - |   |   |   | 179,424 |   |
| Commercial mortgage           |   |       | 1,121,122 |   |       |   | 995,295   |       |   |   | 2,658,934  |   |   |    | 4,775,351  |   |   |   | 34,745,196  |      |   |   | 39,520,547  |   |   |   | - |   |   |   | 2,891,958 |   |
| Non-Real Estate Secured:      |   |       |      |   |       |   |      |       |   |   |       |   |   |    |       |   |   |   |        |      |   |   |        |   |   |   |   |   |   |   |   |   |
| Commercial & agricultural |   |       | 342,603   |   |       |   | 174,523   |       |   |   | 410,270    |   |   |    | 927,396    |   |   |   | 14,494,357  |      |   |   | 15,421,753  |   |   |   | - |   |   |   | 410,270 |   |
| Financial institutions        |   |       | -         |   |       |   | -         |       |   |   | -          |   |   |    | -          |   |   |   | 316,935     |      |   |   | 316,935     |   |   |   | - |   |   |   | - |   |
| Civic organizations           |   |       | -         |   |       |   | -         |       |   |   | -          |   |   |    | -          |   |   |   | 403,774     |      |   |   | 403,774     |   |   |   | - |   |   |   | - |   |
| Consumer-auto                 |   |       | 80,307    |   |       |   | 84,486    |       |   |   | 48,990     |   |   |    | 213,783    |   |   |   | 3,805,864   |      |   |   | 4,019,647   |   |   |   | 28,990 |   |   |   | 20,000 |   |
| Consumer-Other                |   |       | 182,849   |   |       |   | 34,727    |       |   |   | 32,532     |   |   |    | 250,108    |   |   |   | 7,460,515   |      |   |   | 7,710,623   |   |   |   | 8,248 |   |   |   | 29,284 |   |
| Total                         |   | $          | 5,212,116 |   |       | $      | 3,124,397 |       |   | $      | 13,855,751 |   |   | $       | 22,192,264 |   |   | $      | 220,977,880 |      |   | $      | 243,170,144 |   |   | $ | 521,516 |   |   | $ | 14,363,706 |   |

----

|                          |   |       |      |   |       |   |      |       |   |   |       |   |   |    |       |   |   |   |        | 90+ Days  |   |   |        |   |
|-------------------------------|--------|------------|-----------|--------|------------|--------|-----------|------------|--------|--------|------------|--------|--------|---------|------------|--------|--------|--------|-------------|-----------|--------|--------|-------------|--------|
|                          |   |       |      |   |       |   |      | 90 Days or |   |   |       |   |   |    |       |   |   |   |        | Past Due  |   |   |        |   |
|                          |   | 30-59 Days |      |   | 60-89 Days |   |      | More Past  |   |   | Total Past |   |   |    |       |   | Total  |   |        | and Still |   |   | Nonaccrual  |   |
|                          |   | Past Due   |      |   | Past Due   |   |      | Due        |   |   | Due        |   |   | Current |       |   | loans  |   |        | Accruing  |   |   | Loans       |   |
| December 31, 2010             |   |       |      |   |       |   |      |       |   |   |       |   |   |    |       |   |   |   |        |      |   |   |        |   |
| Real Estate Secured:          |   |       |      |   |       |   |      |       |   |   |       |   |   |    |       |   |   |   |        |      |   |   |        |   |
| 1-4 residential construction  |   | $          | -         |   |       | $      | 115,238   |       |   | $      | -          |   |   | $       | 115,238    |   |   | $      | 694,877     |      |   | $      | 810,115     |   |   | $ | - |   |   | $ | - |   |
| Commercial construction       |   |       | -         |   |       |   | -         |       |   |   | -          |   |   |    | -          |   |   |   | 218,345     |      |   |   | 218,345     |   |   |   | - |   |   |   | - |   |
| Loan development &        |   |       |      |   |       |   |      |       |   |   |       |   |   |    |       |   |   |   |        |      |   |   |        |   |   |   |   |   |   |   |   |   |
| other land                    |   |       | 431,277   |   |       |   | 27,641    |       |   |   | 2,841,698  |   |   |    | 3,300,616  |   |   |   | 16,979,225  |      |   |   | 20,279,841  |   |   |   | 51,809 |   |   |   | 2,901,203 |   |
| Farmland                      |   |       | 509,005   |   |       |   | 1,003,879 |       |   |   | 2,936,006  |   |   |    | 4,448,890  |   |   |   | 28,776,027  |      |   |   | 33,224,917  |   |   |   | -  |   |   |   | 3,507,668 |   |
| 1-4 residential mortgage      |   |       | 4,632,469 |   |       |   | 2,300,063 |       |   |   | 5,928,980  |   |   |    | 12,861,512 |   |   |   | 99,404,882  |      |   |   | 112,266,394 |   |   |   | 724,270 |   |   |   | 6,047,300 |   |
| Multifamily                   |   |       | -         |   |       |   | -         |       |   |   | -          |   |   |    | -          |   |   |   | 2,863,816   |      |   |   | 2,863,816   |   |   |   | - |   |   |   | - |   |
| Home equity and second        |   |       |      |   |       |   |      |       |   |   |       |   |   |    |       |   |   |   |        |      |   |   |        |   |   |   |   |   |   |   |   |   |
| mortgage                      |   |       | 165,669   |   |       |   | 63,459    |       |   |   | 244,616    |   |   |    | 473,744    |   |   |   | 12,009,089  |      |   |   | 12,482,833  |   |   |   | 56,704 |   |   |   | 188,900 |   |
| Commercial mortgage           |   |       | 487,226   |   |       |   | 319,431   |       |   |   | 2,493,535  |   |   |    | 3,300,192  |   |   |   | 37,042,044  |      |   |   | 40,342,236  |   |   |   | - |   |   |   | 2,579,645 |   |
| Non-Real Estate Secured:      |   |       |      |   |       |   |      |       |   |   |       |   |   |    |       |   |   |   |        |      |   |   |        |   |   |   |   |   |   |   |   |   |
| Commercial & agricultural |   |       | 249,260   |   |       |   | 272,044   |       |   |   | 432,584    |   |   |    | 953,888    |   |   |   | 15,648,999  |      |   |   | 16,602,887  |   |   |   | - |   |   |   | 432,584 |   |
| Financial institutions        |   |       | -         |   |       |   | -         |       |   |   | -          |   |   |    | -          |   |   |   | 323,021     |      |   |   | 323,021     |   |   |   | - |   |   |   | - |   |
| Civic organizations           |   |       | -         |   |       |   | -         |       |   |   | -          |   |   |    | -          |   |   |   | 471,939     |      |   |   | 471,939     |   |   |   | - |   |   |   | - |   |
| Consumer-auto                 |   |       | 150,589   |   |       |   | 44,017    |       |   |   | 78,536     |   |   |    | 273,142    |   |   |   | 4,260,520   |      |   |   | 4,533,662   |   |   |   | 65,413 |   |   |   | 13,124 |   |
| Consumer-Other                |   |       | 223,490   |   |       |   | 23,340    |       |   |   | 72,216     |   |   |    | 319,046    |   |   |   | 8,316,326   |      |   |   | 8,635,372   |   |   |   | 37,779 |   |   |   | 39,437 |   |
| Total                         |   | $          | 6,848,985 |   |       | $      | 4,169,112 |       |   | $      | 15,028,171 |   |   | $       | 26,046,268 |   |   | $      | 227,009,110 |      |   | $      | 253,055,378 |   |   | $ | 935,975 |   |   | $ | 15,709,861 |   |

----

|                                |   |           |       |   | Unpaid    |   |       |      |   |   | Average    |   |   | Interest   |       |
|-------------------------------------|--------|----------------|------------|--------|-----------|--------|------------|-----------|--------|--------|------------|--------|--------|------------|------------|
|                                |   | Recorded       |       |   | Principal |   |       | Related   |   |   | Recorded   |   |   | Income     |       |
|                                |   | Investment (1) |       |   | Balance   |   |       | Allowance |   |   | Investment |   |   | Recognized |       |
| March 31, 2011                      |   |           |       |   |      |   |       |      |   |   |       |   |   |       |       |
| With no related allowance recorded: |   |           |       |   |      |   |       |      |   |   |       |   |   |       |       |
| Land development & other land   |   | $              | 1,510,171  |   |      | $      | 1,492,954  |      |   | $      | -          |   |   | $          | 1,913,502  |   |   | $ | 2,490 |   |
| Farmland                            |   |           | 3,452,067  |   |      |   | 3,429,914  |      |   |   | -          |   |   |       | 3,289,699  |   |   |   | 5,178 |   |
| 1-4 residential mortgage            |   |           | 2,298,920  |   |      |   | 2,224,664  |      |   |   | -          |   |   |       | 3,785,147  |   |   |   | - |   |
| Commercial mortgage                 |   |           | 2,359,816  |   |      |   | 2,350,108  |      |   |   | -          |   |   |       | 2,105,646  |   |   |   | - |   |
| Commercial & agricultural       |   |           | -          |   |      |   | -          |      |   |   | -          |   |   |       | -          |   |   |   | - |   |
| Subtotal                            |   |           | 9,620,974  |   |      |   | 9,497,640  |      |   |   | -          |   |   |       | 11,093,994 |   |   |   | 7,668 |   |
|                                |   |           |       |   |      |   |       |      |   |   |       |   |   |       |       |   |   |   |   |   |
| With an allowance recorded:         |   |           |       |   |      |   |       |      |   |   |       |   |   |       |       |   |   |   |   |   |
| Land development & other land   |   |           | 480,174    |   |      |   | 477,220    |      |   |   | 175,347    |   |   |       | 301,110    |   |   |   | - |   |
| Farmland                            |   |           | 317,248    |   |      |   | 315,285    |      |   |   | 13,535     |   |   |       | 63,450     |   |   |   | - |   |
| 1-4 residential mortgage            |   |           | 1,435,175  |   |      |   | 1,427,522  |      |   |   | 54,809     |   |   |       | 1,334,866  |   |   |   | 7,782 |   |
| Commercial mortgage                 |   |           | 239,317    |   |      |   | 235,160    |      |   |   | 44,640     |   |   |       | 238,065    |   |   |   | - |   |
| Commercial & Agricultural       |   |           | 111,388    |   |      |   | 107,979    |      |   |   | 10,798     |   |   |       | 77,972     |   |   |   | - |   |
| Subtotal                            |   |           | 2,583,302  |   |      |   | 2,563,166  |      |   |   | 299,129    |   |   |       | 2,015,463  |   |   |   | 7,782 |   |
|                                |   |           |       |   |      |   |       |      |   |   |       |   |   |       |       |   |   |   |   |   |
| Totals:                             |   |           |       |   |      |   |       |      |   |   |       |   |   |       |       |   |   |   |   |   |
| Land development & other land   |   |           | 1,990,345  |   |      |   | 1,970,174  |      |   |   | 175,347    |   |   |       | 2,214,612  |   |   |   | 2,490 |   |
| Farmland                            |   |           | 3,769,315  |   |      |   | 3,745,199  |      |   |   | 13,535     |   |   |       | 3,353,149  |   |   |   | 5,178 |   |
| 1-4 residential mortgage            |   |           | 3,734,095  |   |      |   | 3,652,186  |      |   |   | 54,809     |   |   |       | 5,120,013  |   |   |   | 7,782 |   |
| Commercial mortgage                 |   |           | 2,599,133  |   |      |   | 2,585,268  |      |   |   | 44,640     |   |   |       | 2,343,711  |   |   |   | - |   |
| Commercial & agricultural       |   |           | 111,388    |   |      |   | 107,979    |      |   |   | 10,798     |   |   |       | 77,972     |   |   |   | - |   |
| Total                               |   | $              | 12,204,276 |   |      | $      | 12,060,806 |      |   | $      | 299,129    |   |   | $          | 13,109,457 |   |   | $ | 15,450 |   |
|                                |   |           |       |   |      |   |       |      |   |   |       |   |   |       |       |   |   |   |   |   |
| December 31, 2010                   |   |           |       |   |      |   |       |      |   |   |       |   |   |       |       |   |   |   |   |   |
| With no related allowance recorded: |   |           |       |   |      |   |       |      |   |   |       |   |   |       |       |   |   |   |   |   |
| Land development & other land   |   | $              | 2,786,092  |   |      | $      | 2,718,524  |      |   | $      | -          |   |   | $          | 3,352,246  |   |   | $ | 93,528 |   |
| Farmland                            |   |           | 2,513,148  |   |      |   | 2,492,274  |      |   |   | -          |   |   |       | 1,476,316  |   |   |   | 6,962 |   |
| 1-4 residential mortgage            |   |           | 3,836,798  |   |      |   | 3,770,194  |      |   |   | -          |   |   |       | 4,012,573  |   |   |   | 650 |   |
| Commercial mortgage                 |   |           | 1,902,880  |   |      |   | 1,896,597  |      |   |   | -          |   |   |       | 1,757,777  |   |   |   | - |   |
| Commercial & agricultural       |   |           | -          |   |      |   | -          |      |   |   | -          |   |   |       | 157,520    |   |   |   | - |   |
| Subtotal                            |   |           | 11,038,918 |   |      |   | 10,877,589 |      |   |   | -          |   |   |       | 10,756,432 |   |   |   | 101,140 |   |
|                                |   |           |       |   |      |   |       |      |   |   |       |   |   |       |       |   |   |   |   |   |
| With an allowance recorded:         |   |           |       |   |      |   |       |      |   |   |       |   |   |       |       |   |   |   |   |   |
| Land development & other land   |   |           | -          |   |      |   | -          |      |   |   | -          |   |   |       | -          |   |   |   | - |   |
| Farmland                            |   |           | 424,224    |   |      |   | 421,166    |      |   |   | 32,410     |   |   |       | 424,224    |   |   |   | - |   |
| 1-4 residential mortgage            |   |           | 1,306,962  |   |      |   | 1,282,727  |      |   |   | 55,185     |   |   |       | 567,826    |   |   |   | 8,391 |   |
| Commercial mortgage                 |   |           | 126,673    |   |      |   | 124,082    |      |   |   | 28,082     |   |   |       | 126,673    |   |   |   | - |   |
| Commercial & agricultural       |   |           | -          |   |      |   | -          |      |   |   | -          |   |   |       | -          |   |   |   | - |   |
| Subtotal                            |   |           | 1,857,859  |   |      |   | 1,827,975  |      |   |   | 115,677    |   |   |       | 1,118,723  |   |   |   | 8,391 |   |
|                                |   |           |       |   |      |   |       |      |   |   |       |   |   |       |       |   |   |   |   |   |
| Totals:                             |   |           |       |   |      |   |       |      |   |   |       |   |   |       |       |   |   |   |   |   |
| Land development & other land   |   |           | 2,786,092  |   |      |   | 2,718,524  |      |   |   | -          |   |   |       | 3,352,246  |   |   |   | 93,528 |   |
| Farmland                            |   |           | 2,937,372  |   |      |   | 2,913,440  |      |   |   | 32,410     |   |   |       | 1,900,540  |   |   |   | 6,962 |   |
| 1-4 residential mortgage            |   |           | 5,143,760  |   |      |   | 5,052,921  |      |   |   | 55,185     |   |   |       | 4,580,399  |   |   |   | 9,041 |   |
| Commercial mortgage                 |   |           | 2,029,553  |   |      |   | 2,020,679  |      |   |   | 28,082     |   |   |       | 1,884,450  |   |   |   | - |   |
| Commercial & agricultural       |   |           | -          |   |      |   | -          |      |   |   | -          |   |   |       | 157,520    |   |   |   | - |   |
| Total                               |   | $              | 12,896,777 |   |      | $      | 12,705,564 |      |   | $      | 115,677    |   |   | $          | 11,875,155 |   |   | $ | 109,531 |   |

| (1) | Recorded investment includes unpaid active principal outstanding, accrued interest, late charges and unearned deferred cost |
|-----|-----------------------------------------------------------------------------------------------------------------------------|

----

|                                                         |   | 2011   |       |   | 2010   |   |
|--------------------------------------------------------------|--------|--------|------------|--------|--------|--------|
|                                                         |   |   |       |   |   |   |
| Average investment in impaired loans                         |   | $      | 13,109,457 |   |   | $      | 13,984,364 |   |
| Interest income recognized on impaired loans                 |   | $      | 15,450     |   |   | $      | 112,207 |   |
| Interest income recognized on a cash basis on impaired loans |   | $      | 15,737     |   |   | $      | 113,694 |   |

|                          |   | 2011   |     |   | 2010   |   |
|-------------------------------|--------|--------|----------|--------|--------|--------|
|                          |   |   |     |   |   |   |
| Tax at statutory federal rate |   | $      | (190,463 | )      |   | $      | 179,549 |   |
| Tax exempt interest income    |   |   | (44,780  | )      |   |   | (41,690 | ) |
| Other tax exempt income       |   |   | (27,540  | )      |   |   | (25,500 | ) |
| Other                         |   |   | 5,783    |   |   |   | 6,641 |   |
|                          |   | $      | (257,000 | )      |   | $      | 119,000 |   |

|                                         |   | March 31, |     |
|----------------------------------------------|--------|-----------|----------|
|                                         |   | 2011      |     |   | 2010 |   |
|                                         |   |      |     |   |   |   |
| Service cost                                 |   | $         | 114,499  |   |   | $ | 102,960 |   |
| Interest cost                                |   |      | 109,934  |   |   |   | 104,258 |   |
| Expected return on plan assets               |   |      | (193,682 | ) |   |   | (165,071 | ) |
| Amortization of net obligation at transition |   |      | -        |   |   |   | - |   |
| Amortization of prior service cost           |   |      | 808      |   |   |   | 808 |   |
| Amortization of net (gain) or loss           |   |      | 11,254   |   |   |   | 9,699 |   |
| Net periodic benefit cost                    |   | $         | 42,813   |   |   | $ | 52,654 |   |

----

|                         |   | Mar 31, 2011 |       |   | Dec 31, 2010 |   |
|------------------------------|--------|--------------|------------|--------|--------------|--------|
|                         |   |         |       |   |         |   |
| Commitments to extend credit |   | $            | 11,777,464 |   |         | $      | 13,652,036 |   |
| Standby letters of credit    |   |         | -          |   |         |   | - |   |
|                         |   | $            | 11,777,464 |   |         | $      | 13,652,036 |   |

----

|                                    |   | March 31, 2011 |    |   | December 31, 2010 |   |
|-----------------------------------------|--------|----------------|---------|--------|-------------------|--------|
|                                    |   | Carrying       |    |   | Fair              |   |   | Carrying |   |   | Fair |   |
|                                    |   | Amount         |    |   | Value             |   |   | Amount |   |   | Value |   |
|                                    |   |           |    |   |              |   |   |   |   |   |   |   |
| Financial assets                        |   |           |    |   |              |   |   |   |   |   |   |   |
| Cash and due from banks                 |   | $              | 8,293   |   |              | $      | 8,293 |   |   | $ | 9,201 |   |   | $ | 9,201 |   |
| Interest bearing deposits with banks    |   |           | 3,308   |   |              |   | 3,308 |   |   |   | 3,306 |   |   |   | 3,306 |   |
| Federal funds sold                      |   |           | 34,806  |   |              |   | 34,806 |   |   |   | 27,746 |   |   |   | 27,746 |   |
| Securities, available for sale          |   |           | 47,964  |   |              |   | 47,964 |   |   |   | 46,841 |   |   |   | 46,841 |   |
| Securities, held to maturity            |   |           | 856     |   |              |   | 893 |   |   |   | 851 |   |   |   | 888 |   |
| Restricted equity securities            |   |           | 1,617   |   |              |   | 1,617 |   |   |   | 1,617 |   |   |   | 1,617 |   |
| Loans, net of allowance for loan losses |   |           | 238,286 |   |              |   | 239,668 |   |   |   | 248,513 |   |   |   | 250,800 |   |
| Cash value of life insurance            |   |           | 8,515   |   |              |   | 8,515 |   |   |   | 8,434 |   |   |   | 8,434 |   |
| Accrued interest receivable             |   |           | 2,070   |   |              |   | 2,070 |   |   |   | 2,132 |   |   |   | 2,132 |   |
|                                    |   |           |    |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Financial liabilities                   |   |           |    |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                |   |           | 310,645 |   |              |   | 313,258 |   |   |   | 311,817 |   |   |   | 314,484 |   |
| Long-term debt                          |   |           | 25,000  |   |              |   | 27,363 |   |   |   | 25,000 |   |   |   | 27,672 |   |
| Accrued interest payable                |   |           | 709     |   |              |   | 709 |   |   |   | 312 |   |   |   | 312 |   |

----

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| March 31, 2011                           |   | Total  |       |   | Level 1 |   |   | Level 2 |   |   | Level 3    |   |
|------------------------------------------|--------|--------|------------|--------|---------|--------|--------|---------|--------|--------|------------|--------|
|                                     |   |   |       |   |    |   |   |    |   |   |       |   |
| Investment securities available for sale |   |   |       |   |    |   |   |    |   |   |       |   |
| U.S. Government agency securities        |   | $      | 1,222,551  |   |    | $      | -      |    |   | $      | 1,222,551  |   |   | $ | - |   |
| Government sponsored enterprises         |   |   | 25,188,653 |   |    |   | -      |    |   |   | 25,188,653 |   |   |   | - |   |
| Mortgage-backed securities               |   |   | 10,348,990 |   |    |   | -      |    |   |   | 10,348,990 |   |   |   | - |   |
| State and municipal securities           |   |   | 11,203,468 |   |    |   | -      |    |   |   | 11,203,468 |   |   |   | - |   |
| Total investment securities              |   |   |       |   |    |   |   |    |   |   |       |   |   |   |   |   |
| available for sale                       |   | $      | 47,963,662 |   |    | $      | -      |    |   | $      | 47,963,662 |   |   | $ | - |   |
| Total assets at fair value               |   | $      | 47,963,662 |   |    | $      | -      |    |   | $      | 47,963,662 |   |   | $ | - |   |
|                                     |   |   |       |   |    |   |   |    |   |   |       |   |   |   |   |   |
| Total liabilities at fair value          |   | $      | -          |   |    | $      | -      |    |   | $      | -          |   |   | $ | - |   |
|                                     |   |   |       |   |    |   |   |    |   |   |       |   |   |   |   |   |
| December 31, 2010                        |   | Total  |       |   | Level 1 |   |   | Level 2 |   |   | Level 3    |   |
|                                     |   |   |       |   |    |   |   |    |   |   |       |   |   |   |   |   |
| Investment securities available for sale |   |   |       |   |    |   |   |    |   |   |       |   |   |   |   |   |
| U.S. Government agency securities        |   | $      | 1,291,595  |   |    | $      | -      |    |   | $      | 1,291,595  |   |   | $ | - |   |
| Government sponsored enterprises         |   |   | 23,469,366 |   |    |   | -      |    |   |   | 23,469,366 |   |   |   | - |   |
| Mortgage-backed securities               |   |   | 10,630,694 |   |    |   | -      |    |   |   | 10,630,694 |   |   |   | - |   |
| State and municipal securities           |   |   | 11,449,592 |   |    |   | -      |    |   |   | 11,449,592 |   |   |   | - |   |
| Total investment securities              |   |   |       |   |    |   |   |    |   |   |       |   |   |   |   |   |
| available for sale                       |   | $      | 46,841,247 |   |    | $      | -      |    |   | $      | 46,841,247 |   |   | $ | - |   |
| Total assets at fair value               |   | $      | 46,841,247 |   |    | $      | -      |    |   | $      | 46,841,247 |   |   | $ | - |   |
|                                     |   |   |       |   |    |   |   |    |   |   |       |   |   |   |   |   |
| Total liabilities at fair value          |   | $      | -          |   |    | $      | -      |    |   | $      | -          |   |   | $ | - |   |

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| March 31, 2011                                           |   | Total  |      |   | Level 1 |   |   | Level 2 |   |   | Level 3   |   |
|----------------------------------------------------------|--------|--------|-----------|--------|---------|--------|--------|---------|--------|--------|-----------|--------|
|                                                     |   |   |      |   |    |   |   |    |   |   |      |   |
| Loans                                                    |   | $      | 4,037,788 |   |    | $      | -      |    |   | $      | 2,941,123 |   |   | $ | 1,096,665 |   |
| Foreclosed assets                                        |   |   | 2,327,000 |   |    |   | -      |    |   |   | 1,375,000 |   |   |   | 952,000 |   |
|      Total assets at fair value      |   | $      | 6,364,788 |   |    | $      | -      |    |   | $      | 4,316,123 |   |   | $ | 2,048,665 |   |
|                                                     |   |   |      |   |    |   |   |    |   |   |      |   |   |   |   |   |
|      Total liabilities at fair value |   | $      | -         |   |    | $      | -      |    |   | $      | -         |   |   | $ | - |   |
|                                                     |   |   |      |   |    |   |   |    |   |   |      |   |   |   |   |   |
| December 31, 2010                                        |   | Total  |      |   | Level 1 |   |   | Level 2 |   |   | Level 3   |   |
|                                                     |   |   |      |   |    |   |   |    |   |   |      |   |   |   |   |   |
| Loans                                                    |   | $      | 4,344,737 |   |    | $      | -      |    |   | $      | 3,009,982 |   |   | $ | 1,334,755 |   |
| Foreclosed assets                                        |   |   | 834,000   |   |    |   | -      |    |   |   | 108,000   |   |   |   | 726,000 |   |
|      Total assets at fair value      |   | $      | 5,178,737 |   |    | $      | -      |    |   | $      | 3,117,982 |   |   | $ | 2,060,755 |   |
|                                                     |   |   |      |   |    |   |   |    |   |   |      |   |   |   |   |   |
|      Total liabilities at fair value |   | $      | -         |   |    | $      | -      |    |   | $      | -         |   |   | $ | - |   |

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| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
|---------|---------------------------------------------------------------------------------------------|

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| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
|---------|---------------------------------------------------------------------------------------------|

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| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
|---------|---------------------------------------------------------------------------------------------|

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| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
|---------|---------------------------------------------------------------------------------------------|

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----

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|               | GRAYSON BANKSHARES, INC. |
|--------------------|--------------------------|
|               |                     |   |   |
|               |                     |   |   |
|               |                     |   |   |
| Date: May 16, 2011 | By:                      | /s/ Jacky K. Anderson |   |
|               |                     | Jacky K. Anderson |   |
|               |                     | President and Chief Executive Officer |   |
|               |                     |   |   |
|               |                     |   |   |
|               | By:                      | /s/ Blake M. Edwards |   |
|               |                     | Blake M. Edwards |   |
|               |                     | Chief Financial Officer |   |

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|   | Exhibit No. | Description                                                                                          |
|--------|-------------|------------------------------------------------------------------------------------------------------|
|   |        |                                                                                                 |
|   | 31.1        | Rule 13(a)-14(a) Certification of Chief Executive Officer.                                           |
|   |        |                                                                                                 |
|   | 31.2        | Rule 13(a)-14(a) Certification of Chief Financial Officer.                                           |
|   |        |                                                                                                 |
|   | 32.1        | Statement of Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C. Section 1350. |

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