|                                                   |
|--------------------------------------------------------|
| Farmers Capital Bank Corporation                       |
| (Exact name of registrant as specified in its charter) |

| Kentucky                     |   | 0-14412      |   | 61-1017851          |
|------------------------------|--------|--------------|--------|---------------------|
| (State or other jurisdiction |   | (Commission  |   | (IRS Employer       |
| of incorporation)            |   | File Number) |   | Identification No.) |

| P.O. Box 309  Frankfort, KY    |   | 40602      |
|------------------------------------------|--------|------------|
| (Address of principal executive offices) |   | (Zip Code) |

|   | Not Applicable                                                 |   |
|--------|----------------------------------------------------------------|--------|
|   | (Former name or former address, if changed since last report.) |   |

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

----

| PART I – FINANCIAL INFORMATION                                                                           |   |
|----------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                           |   |
| Item 1. Financial Statements                                                                                   |   |
| Unaudited Consolidated Balance Sheets                                                                          | 3      |
| Unaudited Consolidated Statements of Income                                                                    | 4      |
| Unaudited Consolidated Statements of Comprehensive Income                                                      | 5      |
| Unaudited Consolidated Statements of Cash Flows                                                                | 6      |
| Unaudited Consolidated Statements of Changes in Shareholders’ Equity                                     | 7      |
| Notes to Unaudited Consolidated Financial Statements                                                           | 8      |
|                                                                                                           |   |
| Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations | 28     |
|                                                                                                           |   |
| Item 3.  Quantitative and Qualitative Disclosures About Market Risk                                  | 43     |
|                                                                                                           |   |
| Item 4.  Controls and Procedures                                                                     | 43     |
|                                                                                                           |   |
| PART II - OTHER INFORMATION                                                                                    |   |
|                                                                                                           |   |
| Item 1.  Legal Proceedings                                                                           | 43     |
|                                                                                                           |   |
| Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds                                 | 44     |
|                                                                                                           |   |
| Item 6.  Exhibits                                                                                    | 45     |
|                                                                                                           |   |
| SIGNATURES                                                                                                     | 47     |

----

----

|                                                                                                                                                                               |   | March 31, |      |   | December 31, |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------|-----------|--------|--------------|--------|
| (Dollars in thousands, except per share data)                                                                                                                  |   | 2011      |      |   | 2010         |   |
| Assets                                                                                                                                                                             |   |      |      |   |         |   |
| Cash and cash equivalents:                                                                                                                                                         |   |      |      |   |         |   |
| Cash and due from banks                                                                                                                                                            |   | $         | 26,488    |   |         | $      | 24,268 |   |
| Interest bearing deposits in other banks                                                                                                                                           |   |      | 139,505   |   |         |   | 139,902 |   |
| Federal funds sold and securities purchased under agreements to resell                                                                                                             |   |      | 18,194    |   |         |   | 17,886 |   |
| Total cash and cash equivalents                                                                                                                                                    |   |      | 184,187   |   |         |   | 182,056 |   |
| Investment securities:                                                                                                                                                             |   |      |      |   |         |   |   |   |
| Available for sale, amortized cost of $512,845 (2011) and $440,580 (2010)                                                                                                          |   |      | 515,523   |   |         |   | 444,182 |   |
| Held to maturity, fair value of $871 (2011) and $844 (2010)                                                                                                                        |   |      | 930       |   |         |   | 930 |   |
| Total investment securities                                                                                                                                                        |   |      | 516,453   |   |         |   | 445,112 |   |
| Loans, net of unearned income                                                                                                                                                      |   |      | 1,151,467 |   |         |   | 1,192,840 |   |
| Allowance for loan losses                                                                                                                                                          |   |      | (29,022   | )      |         |   | (28,784 | ) |
| Loans, net                                                                                                                                                                         |   |      | 1,122,445 |   |         |   | 1,164,056 |   |
| Premises and equipment, net                                                                                                                                                        |   |      | 39,133    |   |         |   | 39,612 |   |
| Company-owned life insurance                                                                                                                                                       |   |      | 26,778    |   |         |   | 28,791 |   |
| Other intangibles, net                                                                                                                                                             |   |      | 3,266     |   |         |   | 3,552 |   |
| Other real estate owned                                                                                                                                                            |   |      | 34,371    |   |         |   | 30,545 |   |
| Other assets                                                                                                                                                                       |   |      | 41,055    |   |         |   | 41,969 |   |
| Total assets                                                                                                                                                                       |   | $         | 1,967,688 |   |         | $      | 1,935,693 |   |
| Liabilities                                                                                                                                                                        |   |      |      |   |         |   |   |   |
| Deposits:                                                                                                                                                                          |   |      |      |   |         |   |   |   |
| Noninterest bearing                                                                                                                                                                |   | $         | 216,061   |   |         | $      | 206,887 |   |
| Interest bearing                                                                                                                                                                   |   |      | 1,257,196 |   |         |   | 1,256,685 |   |
| Total deposits                                                                                                                                                                     |   |      | 1,473,257 |   |         |   | 1,463,572 |   |
| Term federal funds purchased and other short-term borrowings                                                                                                                       |   |      | 72,810    |   |         |   | 47,409 |   |
| Securities sold under agreements to repurchase and other long-term borrowings                                                                                                      |   |      | 201,068   |   |         |   | 203,239 |   |
| Subordinated notes payable to unconsolidated trusts                                                                                                                                |   |      | 48,970    |   |         |   | 48,970 |   |
| Dividends payable                                                                                                                                                                  |   |      | 188       |   |         |   | 188 |   |
| Other liabilities                                                                                                                                                                  |   |      | 21,321    |   |         |   | 22,419 |   |
| Total liabilities                                                                                                                                                                  |   |      | 1,817,614 |   |         |   | 1,785,797 |   |
| Shareholders’ Equity                                                                                                                                                         |   |      |      |   |         |   |   |   |
| Preferred stock, no par value1,000,000 shares authorized; 30,000 Series A shares issued and outstanding at March 31, 2011 and December 31, 2010; Liquidation preference of $30,000 |   |      | 28,816    |   |         |   | 28,719 |   |
| Common stock, par value $.125 per share14,608,000 shares authorized; 7,419,756 and 7,411,676 shares issued and outstanding at March 31, 2011 and December 31, 2010, respectively   |   |      | 927       |   |         |   | 926 |   |
| Capital surplus                                                                                                                                                                    |   |      | 50,725    |   |         |   | 50,675 |   |
| Retained earnings                                                                                                                                                                  |   |      | 69,251    |   |         |   | 68,678 |   |
| Accumulated other comprehensive income                                                                                                                                             |   |      | 355       |   |         |   | 898 |   |
| Total shareholders’ equity                                                                                                                                                   |   |      | 150,074   |   |         |   | 149,896 |   |
| Total liabilities and shareholders’ equity                                                                                                                                   |   | $         | 1,967,688 |   |         | $      | 1,935,693 |   |

----

----

|                                                                                      |   | Three Months Ended |   |
|-------------------------------------------------------------------------------------------|--------|--------------------|--------|
|                                                                                      |   | March 31,          |   |
| (In thousands, except per share data)                                                     |   | 2011               |   |   | 2010 |   |
| Interest Income                                                                           |   |               |   |   |   |   |
| Interest and fees on loans                                                                |   | $                  | 16,180 |   |   | $ | 17,742 |   |
| Interest on investment securities:                                                        |   |               |   |   |   |   |   |   |
| Taxable                                                                                   |   |               | 3,370  |   |   |   | 4,699 |   |
| Nontaxable                                                                                |   |               | 533    |   |   |   | 857 |   |
| Interest on deposits in other banks                                                       |   |               | 83     |   |   |   | 82 |   |
| Interest on federal funds sold and securities purchased under agreements to resell        |   |               | 2      |   |   |   | 2 |   |
| Total interest income                                                                     |   |               | 20,168 |   |   |   | 23,382 |   |
| Interest Expense                                                                          |   |               |   |   |   |   |   |   |
| Interest on deposits                                                                      |   |               | 3,947  |   |   |   | 6,702 |   |
| Interest on federal funds purchased and other short-term borrowings                       |   |               | 62     |   |   |   | 92 |   |
| Interest on securities sold under agreements to repurchase and other long-term borrowings |   |               | 1,998  |   |   |   | 2,637 |   |
| Interest on subordinated notes payable to unconsolidated trusts                           |   |               | 505    |   |   |   | 501 |   |
| Total interest expense                                                                    |   |               | 6,512  |   |   |   | 9,932 |   |
| Net interest income                                                                       |   |               | 13,656 |   |   |   | 13,450 |   |
| Provision for loan losses                                                                 |   |               | 2,441  |   |   |   | 1,926 |   |
| Net interest income after provision for loan losses                                       |   |               | 11,215 |   |   |   | 11,524 |   |
| Noninterest Income                                                                        |   |               |   |   |   |   |   |   |
| Service charges and fees on deposits                                                      |   |               | 2,053  |   |   |   | 2,144 |   |
| Allotment processing fees                                                                 |   |               | 1,329  |   |   |   | 1,368 |   |
| Other service charges, commissions, and fees                                              |   |               | 1,029  |   |   |   | 1,121 |   |
| Data processing income                                                                    |   |               | 264    |   |   |   | 347 |   |
| Trust income                                                                              |   |               | 427    |   |   |   | 428 |   |
| Investment securities gains, net                                                          |   |               | 410    |   |   |   | 1,612 |   |
| Gains on sale of mortgage loans, net                                                      |   |               | 141    |   |   |   | 121 |   |
| Income from company-owned life insurance                                                  |   |               | 235    |   |   |   | 293 |   |
| Other                                                                                     |   |               | 5      |   |   |   | 56 |   |
| Total noninterest income                                                                  |   |               | 5,893  |   |   |   | 7,490 |   |
| Noninterest Expense                                                                       |   |               |   |   |   |   |   |   |
| Salaries and employee benefits                                                            |   |               | 6,765  |   |   |   | 7,096 |   |
| Occupancy expenses, net                                                                   |   |               | 1,232  |   |   |   | 1,279 |   |
| Equipment expenses                                                                        |   |               | 610    |   |   |   | 661 |   |
| Data processing and communication expenses                                                |   |               | 1,228  |   |   |   | 1,443 |   |
| Bank franchise tax                                                                        |   |               | 631    |   |   |   | 617 |   |
| Deposit insurance expense                                                                 |   |               | 889    |   |   |   | 1,106 |   |
| Correspondent bank fees                                                                   |   |               | 121    |   |   |   | 193 |   |
| Amortization of intangibles                                                               |   |               | 286    |   |   |   | 359 |   |
| Other real estate expenses, net                                                           |   |               | 680    |   |   |   | 1,672 |   |
| Deposit fraud loss                                                                        |   |               | 700    |   |   |   |   |   |
| Other                                                                                     |   |               | 2,140  |   |   |   | 2,071 |   |
| Total noninterest expense                                                                 |   |               | 15,282 |   |   |   | 16,497 |   |
| Income before income taxes                                                                |   |               | 1,826  |   |   |   | 2,517 |   |
| Income tax expense                                                                        |   |               | 781    |   |   |   | 572 |   |
| Net income                                                                                |   |               | 1,045  |   |   |   | 1,945 |   |
| Dividends and accretion on preferred shares                                               |   |               | (472   | ) |   |   | (466 | ) |
| Net income available to common shareholders                                               |   | $                  | 573    |   |   | $ | 1,479 |   |
| Per Common Share                                                                          |   |               |   |   |   |   |   |   |
| Net income, basic and diluted                                                             |   | $                  | .08    |   |   | $ | .20 |   |
| Cash dividends declared                                                                   |   |               | N/A    |   |   |   | N/A |   |
| Weighted Average Shares Common Outstanding                                                |   |               |   |   |   |   |   |   |
| Basic and diluted                                                                         |   |               | 7,412  |   |   |   | 7,379 |   |

----

----

|                                                                                                                                                                                       |   | Three Months Ended |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|
|                                                                                                                                                                                       |   | March 31,          |   |
| (In thousands)                                                                                                                                                                             |   | 2011               |   |   | 2010 |   |
| Net Income                                                                                                                                                                                 |   | $                  | 1,045  |   |   | $ | 1,945 |   |
| Other comprehensive income:                                                                                                                                                                |   |               |   |   |   |   |   |   |
| Net unrealized holding gain on available for sale securities arising during the period on securities held at end of period, net of tax of $24 and $602, respectively                       |   |               | 45     |   |   |   | 1,118 |   |
|                                                                                                                                                                                       |   |               |   |   |   |   |   |   |
| Reclassification adjustment for prior period unrealized gain previously reported in other comprehensive income recognized during current period, net of tax of $348 and $458, respectively |   |               | (646   | ) |   |   | (850 | ) |
|                                                                                                                                                                                       |   |               |   |   |   |   |   |   |
| Change in unfunded portion of postretirement benefit obligation, net of tax of $32 and $32, respectively                                                                                   |   |               | 58     |   |   |   | 59 |   |
| Other comprehensive (loss) income                                                                                                                                                          |   |               | (543   | ) |   |   | 327 |   |
| Comprehensive Income                                                                                                                                                                       |   | $                  | 502    |   |   | $ | 2,272 |   |

----

----

| Three months ended March 31, (In thousands)                                           |   | 2011   |        |   | 2010   |   |
|---------------------------------------------------------------------------------------|--------|--------|-------------|--------|--------|--------|
| Cash Flows from Operating Activities                                                  |   |   |        |   |   |   |
| Net income                                                                            |   | $      | 1,045       |   |   | $      | 1,945 |   |
| Adjustments to reconcile net income to net cash provided by operating activities:     |   |   |        |   |   |   |   |   |
| Depreciation and amortization                                                         |   |   | 1,237       |   |   |   | 1,319 |   |
| Net premium amortization of available for sale investment securities                  |   |   | 828         |   |   |   | 364 |   |
| Provision for loan losses                                                             |   |   | 2,441       |   |   |   | 1,926 |   |
| Noncash compensation expense                                                          |   |   | 17          |   |   |   | 15 |   |
| Mortgage loans originated for sale                                                    |   |   | (5,621      | )      |   |   | (5,473 | ) |
| Proceeds from sale of mortgage loans                                                  |   |   | 7,027       |   |   |   | 6,417 |   |
| Deferred income tax expense                                                           |   |   | 2,063       |   |   |   | 1,724 |   |
| Gain on sale of mortgage loans, net                                                   |   |   | (141        | )      |   |   | (121 | ) |
| Gain on disposal of premises and equipment, net                                       |   |   |        |   |   |   | (24 | ) |
| Net loss on sale and write downs of repossessed real estate                           |   |   | 396         |   |   |   | 1,388 |   |
| Net gain on sale of available for sale investment securities                          |   |   | (410        | )      |   |   | (1,612 | ) |
| Decrease in accrued interest receivable                                               |   |   | 405         |   |   |   | 463 |   |
| Income from company-owned life insurance                                              |   |   | (235        | )      |   |   | (279 | ) |
| Increase in other assets                                                              |   |   | (1,298      | )      |   |   | (854 | ) |
| Decrease in accrued interest payable                                                  |   |   | (133        | )      |   |   | (401 | ) |
| (Decrease) increase in other liabilities                                              |   |   | (875        | )      |   |   | (1,256 | ) |
| Net cash provided by operating activities                                             |   |   | 6,746       |   |   |   | 5,541 |   |
| Cash Flows from Investing Activities                                                  |   |   |        |   |   |   |   |   |
| Proceeds from maturities and calls of available for sale investment securities        |   |   | 22,052      |   |   |   | 53,375 |   |
| Proceeds from sale of available for sale investment securities                        |   |   | 25,606      |   |   |   | 62,212 |   |
| Purchase of available for sale investment securities                                  |   |   | (120,341    | )      |   |   | (124,136 | ) |
| Purchase of restricted stock investments                                              |   |   |        |   |   |   | (331 | ) |
| Net principal collected in excess of loans originated for investment                  |   |   | 32,379      |   |   |   | 10,242 |   |
| Proceeds from surrender of company-owned life insurance                               |   |   | 2,248       |   |   |   | 8,567 |   |
| Purchase of premises and equipment                                                    |   |   | (436        | )      |   |   | (413 | ) |
| Proceeds from sale of repossessed assets                                              |   |   | 1,303       |   |   |   | 6,761 |   |
| Proceeds from sale of equipment                                                       |   |   |        |   |   |   | 24 |   |
| Net cash (used in) provided by investing activities                                   |   |   | (37,189     | )      |   |   | 16,301 |   |
| Cash Flows from Financing Activities                                                  |   |   |        |   |   |   |   |   |
| Net increase (decrease) in deposits                                                   |   |   | 9,685       |   |   |   | (8,997 | ) |
| Net increase (decrease) in federal funds purchased and other short-term borrowings    |   |   | 25,401      |   |   |   | (8,618 | ) |
| Repayments of securities sold under agreements to repurchase and other long-term debt |   |   | (2,171      | )      |   |   | (5,175 | ) |
| Dividends paid, common and preferred                                                  |   |   | (375        | )      |   |   | (1,112 | ) |
| Shares issued under employee stock purchase plan                                      |   |   | 34          |   |   |   | 42 |   |
| Net cash provided by (used in)  financing activities                        |   |   | 32,574      |   |   |   | (23,860 | ) |
| Net increase (decrease) in cash and cash equivalents                                  |   |   | 2,131       |   |   |   | (2,018 | ) |
| Cash and cash equivalents at beginning of year                                        |   |   | 182,056     |   |   |   | 218,336 |   |
| Cash and cash equivalents at end of period                                            |   | $      | 184,187     |   |   | $      | 216,318 |   |
| Supplemental Disclosures                                                              |   |   |        |   |   |   |   |   |
| Cash paid during the period for:                                                      |   |   |        |   |   |   |   |   |
| Interest                                                                              |   | $      |  6,645 |   |   | $      | 10,333 |   |
| Income taxes                                                                          |   |   | 750         |   |   |   | 89 |   |
| Transfers from loans to other real estate                                             |   |   | 5,525       |   |   |   | 3,803 |   |
| Cash dividends payable, preferred                                                     |   |   | 188         |   |   |   | 188 |   |

----

----

| (Dollars in thousands, except per share data)                           |   |      |   |   |         |   |   |    |   |   |     |   |   | Accumulated   |   |   |                |   |
|-------------------------------------------------------------------------|--------|-----------|--------|--------|--------------|--------|--------|---------|--------|--------|----------|--------|--------|---------------|--------|--------|---------------------|--------|
|                                                                    |   |      |   |   |         |   |   |    |   |   |     |   |   | Other         |   |   | Total               |   |
| Three months ended                                                      |   | Preferred |   |   | Common Stock |   |   | Capital |   |   | Retained |   |   | Comprehensive |   |   | Shareholders’ |   |
| March 31, 2011 and 2010                                                 |   | Stock     |   |   | Shares       |   |   | Amount  |   |   | Surplus  |   |   | Earnings      |   |   | Income              |   |   | Equity |   |
| Balance at January 1, 2011                                              |   | $         | 28,719 |   |         |   | 7,412  |    |   | $      | 926      |   |   | $             | 50,675 |   |                | $      | 68,678 |   |   | $ | 898 |   |   | $ | 149,896 |   |
| Net income                                                              |   |      |   |   |         |   |   |    |   |   |     |   |   |          |   |   |                |   | 1,045 |   |   |   |   |   |   |   | 1,045 |   |
| Other comprehensive loss                                                |   |      |   |   |         |   |   |    |   |   |     |   |   |          |   |   |                |   |   |   |   |   | (543 | ) |   |   | (543 | ) |
| Preferred stock dividends, $12.50 per share                             |   |      |   |   |         |   |   |    |   |   |     |   |   |          |   |   |                |   | (375 | ) |   |   |   |   |   |   | (375 | ) |
| Preferred stock discount accretion                                      |   |      | 97     |   |         |   |   |    |   |   |     |   |   |          |   |   |                |   | (97 | ) |   |   |   |   |   |   |   |   |
| Shares issued pursuant to employee stock purchase plan                  |   |      |   |   |         |   | 8      |    |   |   | 1        |   |   |          | 33     |   |                |   |   |   |   |   |   |   |   |   | 34 |   |
| Noncash compensation expense attributed to employee stock purchase plan |   |      |   |   |         |   |   |    |   |   |     |   |   |          | 17     |   |                |   |   |   |   |   |   |   |   |   | 17 |   |
| Balance at March 31, 2011                                               |   | $         | 28,816 |   |         |   | 7,420  |    |   | $      | 927      |   |   | $             | 50,725 |   |                | $      | 69,251 |   |   | $ | 355 |   |   | $ | 150,074 |   |
|                                                                    |   |      |   |   |         |   |   |    |   |   |     |   |   |          |   |   |                |   |   |   |   |   |   |   |   |   |   |   |
|                                                                    |   |      |   |   |         |   |   |    |   |   |     |   |   |          |   |   |                |   |   |   |   |   |   |   |   |   |   |   |
|                                                                    |   |      |   |   |         |   |   |    |   |   |     |   |   |          |   |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Balance at January 1, 2010                                              |   | $         | 28,348 |   |         |   | 7,379  |    |   | $      | 922      |   |   | $             | 50,476 |   |                | $      | 63,617 |   |   | $ | 3,864 |   |   | $ | 147,227 |   |
| Net income                                                              |   |      |   |   |         |   |   |    |   |   |     |   |   |          |   |   |                |   | 1,945 |   |   |   |   |   |   |   | 1,945 |   |
| Other comprehensive income                                              |   |      |   |   |         |   |   |    |   |   |     |   |   |          |   |   |                |   |   |   |   |   | 327 |   |   |   | 327 |   |
| Preferred stock dividends, $12. 50 per share                            |   |      |   |   |         |   |   |    |   |   |     |   |   |          |   |   |                |   | (375 | ) |   |   |   |   |   |   | (375 | ) |
| Preferred stock discount accretion                                      |   |      | 91     |   |         |   |   |    |   |   |     |   |   |          |   |   |                |   | (91 | ) |   |   |   |   |   |   |   |   |
| Shares issued pursuant to employee stock purchase plan                  |   |      |   |   |         |   | 5      |    |   |   | 1        |   |   |          | 41     |   |                |   |   |   |   |   |   |   |   |   | 42 |   |
| Noncash compensation expense attributed to employee stock purchase plan |   |      |   |   |         |   |   |    |   |   |     |   |   |          | 15     |   |                |   |   |   |   |   |   |   |   |   | 15 |   |
| Balance at March 31, 2010                                               |   | $         | 28,439 |   |         |   | 7,384  |    |   | $      | 923      |   |   | $             | 50,532 |   |                | $      | 65,096 |   |   | $ | 4,191 |   |   | $ | 149,181 |   |

----

| 1. | Basis of Presentation and Nature of Operations |
|----|------------------------------------------------|

----

| 2. | Reclassifications |
|----|-------------------|

----

|                                                            |   | Three Months EndedMarch 31, |   |
|-----------------------------------------------------------------|--------|-----------------------------|--------|
| (In thousands, except per share data)                           |   | 2011                        |   |   | 2010 |   |
|                                                            |   |                        |   |   |   |   |
| Net income, basic and diluted                                   |   | $                           | 1,045  |   |   | $ | 1,945 |   |
| Preferred stock dividends and discount accretion                |   |                        | (472   | ) |   |   | (466 | ) |
| Net income available to common shareholders, basic and diluted  |   | $                           | 573    |   |   | $ | 1,479 |   |
|                                                            |   |                        |   |   |   |   |   |   |
|                                                            |   |                        |   |   |   |   |   |   |
| Average common shares issued and outstanding, basic and diluted |   |                        | 7,412  |   |   |   | 7,379 |   |
|                                                            |   |                        |   |   |   |   |   |   |
| Net income per common share, basic and diluted                  |   | $                           | .08    |   |   | $ | .20 |   |

----

|   | Level 1: | Quoted prices for identical assets or liabilities in active markets that the entity has the ability to access at the measurement date. |
|--------|----------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | Level 2: | Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. |
|--------|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Level 3: | Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing the asset or liability. |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | U.S. Treasury securities are priced using dealer quotes from active market makers and real-time trading systems. |
|--------|--------|------------------------------------------------------------------------------------------------------------------|

|   | · | Marketable equity securities are priced utilizing real-time data feeds from active market exchanges for identical securities. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------|

|   | · | Government-sponsored agency debt securities, obligations of states and political subdivisions, corporate bonds, and other similar investment securities are priced with available market information through processes using benchmark yields, matrix pricing, prepayment speeds, cash flows, live trading data, and market spreads sourced from new issues, dealer quotes, and trade prices, among others sources. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                         |   |       |    |   | Fair Value Measurements Using                                 |
|--------------------------------------------------------------|--------|------------|---------|--------|---------------------------------------------------------------|
| (In thousands) Available For Sale Investment Securities |   | Fair Value |    |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs(Level 2) |   | Significant Unobservable Inputs(Level 3) |
|                                                         |   |       |    |   |                                                          |   |   |   |   |   |
| March 31, 2011                                               |   |       |    |   |                                                          |   |   |   |   |   |
| U.S. Treasury securities                                     |   | $          | 49      |   |                                                          | $ | 49 |   |   |   |   |   |
| Obligations of U.S. government-sponsored entities            |   |       | 96,490  |   |                                                          |   |   |   |   | $ | 96,490 |   |   |
| Obligations of states and political subdivisions             |   |       | 66,871  |   |                                                          |   |   |   |   |   | 66,871 |   |   |
| Mortgage-backed securities – residential               |   |       | 343,410 |   |                                                          |   |   |   |   |   | 343,410 |   |   |
| Mortgage-backed securities – commercial                |   |       | 508     |   |                                                          |   |   |   |   |   | 508 |   |   |
| Money market mutual funds                                    |   |       | 471     |   |                                                          |   | 471 |   |   |   |   |   |   |
| Corporate debt securities                                    |   |       | 7,349   |   |                                                          |   |   |   |   |   | 7,349 |   |   |
| Equity securities                                            |   |       | 375     |   |                                                          |   | 375 |   |   |   |   |   |   |
|      Total                          |   | $          | 515,523 |   |                                                          | $ | 895 |   |   | $ | 514,628 |   | $ 0 |

----

----

|                                                               |   |       |    |   | Fair Value Measurements Using                                 |
|--------------------------------------------------------------------|--------|------------|---------|--------|---------------------------------------------------------------|
| (In thousands)  Available For Sale Investment Securities |   | Fair Value |    |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs(Level 2) |   | Significant Unobservable Inputs(Level 3) |
|                                                               |   |       |    |   |                                                          |   |   |   |   |   |
| December 31, 2010                                                  |   |       |    |   |                                                          |   |   |   |   |   |
| U.S. Treasury securities                                           |   | $          | 1,044   |   |                                                          | $ | 1,044 |   |   |   |   |   |
| Obligations of U.S. government-sponsored entities                  |   |       | 41,613  |   |                                                          |   |   |   |   | $ | 41,613 |   |   |
| Obligations of states and political subdivisions                   |   |       | 74,799  |   |                                                          |   |   |   |   |   | 74,799 |   |   |
| Mortgage-backed securities – residential                     |   |       | 319,930 |   |                                                          |   |   |   |   |   | 319,930 |   |   |
| Money market mutual funds                                          |   |       | 145     |   |                                                          |   | 145 |   |   |   |   |   |   |
| Corporate debt securities                                          |   |       | 6,606   |   |                                                          |   |   |   |   |   | 6,606 |   |   |
| Equity securities                                                  |   |       | 45      |   |                                                          |   | 45 |   |   |   |   |   |   |
|      Total                                |   | $          | 444,182 |   |                                                          | $ | 1,234 |   |   | $ | 442,948 |   | $ 0 |

----

----

|                                                           |   |       |   | Fair Value Measurements Using                                 |                                         |
|----------------------------------------------------------------|--------|------------|--------|---------------------------------------------------------------|----------------------------------------------|
| (In thousands) Description                                |   | Fair Value |   | Quoted Prices in Active Markets for Identical Assets(Level 1) | Significant Other Observable Inputs(Level 2) |   | Significant Unobservable Inputs(Level 3) |   |
|                                                           |   |       |   |                                                          |                                         |   |   |   |
| March 31, 2011                                                 |   |       |   |                                                          |                                         |   |   |   |
| Impaired Loans                                                 |   |       |   |                                                          |                                         |   |   |   |
| Real estate-construction and land development                  |   | $          | 7,939  |                                                          |                                         |   |   | $ | 7,939 |   |
| Real estate mortgage-residential                               |   |       | 9,610  |                                                          |                                         |   |   |   | 9,610 |   |
| Real estate mortgage-farmland and other commercial enterprises |   |       | 17,126 |                                                          |                                         |   |   |   | 17,126 |   |
| Commercial and industrial                                      |   |       | 139    |                                                          |                                         |   |   |   | 139 |   |
| Consumer-secured                                               |   |       | 167    |                                                          |                                         |   |   |   | 167 |   |
| Total-Impaired Loans                                           |   | $          | 34,981 |                                                          |                                         |   |   | $ | 34,981 |   |
|                                                           |   |       |   |                                                          |                                         |   |   |   |   |   |
| OREO                                                           |   |       |   |                                                          |                                         |   |   |   |   |   |
| Real estate-construction and land development                  |   | $          | 1,452  |                                                          |                                         |   |   | $ | 1,452 |   |
| Real estate mortgage-residential                               |   |       | 318    |                                                          |                                         |   |   |   | 318 |   |
| Real estate mortgage-farmland and other commercial enterprises |   |       | 1,082  |                                                          |                                         |   |   |   | 1,082 |   |
| Total-OREO                                                     |   | $          | 2,852  |                                                          |                                         |   |   | $ | 2,852 |   |

----

|                                                           |   |       |   | Fair Value Measurements Using                                 |                                         |
|----------------------------------------------------------------|--------|------------|--------|---------------------------------------------------------------|----------------------------------------------|
| (In thousands) Description                                |   | Fair Value |   | Quoted Prices in Active Markets for Identical Assets(Level 1) | Significant Other Observable Inputs(Level 2) |   | Significant Unobservable Inputs(Level 3) |   |
|                                                           |   |       |   |                                                          |                                         |   |   |   |
| December 31, 2010                                              |   |       |   |                                                          |                                         |   |   |   |
| Impaired Loans                                                 |   |       |   |                                                          |                                         |   |   |   |
| Real estate-construction and land development                  |   | $          | 12,573 |                                                          |                                         |   |   | $ | 12,573 |   |
| Real estate mortgage-residential                               |   |       | 10,376 |                                                          |                                         |   |   |   | 10,376 |   |
| Real estate mortgage-farmland and other commercial enterprises |   |       | 9,331  |                                                          |                                         |   |   |   | 9,331 |   |
| Commercial and industrial                                      |   |       | 133    |                                                          |                                         |   |   |   | 133 |   |
| Consumer-secured                                               |   |       | 38     |                                                          |                                         |   |   |   | 38 |   |
| Total-Impaired Loans                                           |   | $          | 32,451 |                                                          |                                         |   |   | $ | 32,451 |   |
|                                                           |   |       |   |                                                          |                                         |   |   |   |   |   |
| OREO                                                           |   |       |   |                                                          |                                         |   |   |   |   |   |
| Real estate-construction and land development                  |   | $          | 12,381 |                                                          |                                         |   |   | $ | 12,381 |   |
| Real estate mortgage-residential                               |   |       | 630    |                                                          |                                         |   |   |   | 630 |   |
| Real estate mortgage-farmland and other commercial enterprises |   |       | 2,810  |                                                          |                                         |   |   |   | 2,810 |   |
| Total-OREO                                                     |   | $          | 15,821 |                                                          |                                         |   |   | $ | 15,821 |   |

----

| (In thousands)      |   |           |   |   |           |   |
|---------------------|--------|----------------|--------|--------|----------------|--------|
| Three months ended  |   | March 31, 2011 |   |   | March 31, 2010 |   |
| Impairment charges: |   |           |   |   |           |   |
| Impaired Loans      |   | $              | 1,134  |   |           | $      | 810 |   |
| OREO                |   |           | 229    |   |           |   | 943 |   |
| Total               |   | $              | 1,363  |   |           | $      | 1,753 |   |

----

----

|                                                                          |   |           |      |   |              |   |
|-------------------------------------------------------------------------------|--------|----------------|-----------|--------|-------------------|--------|
|                                                                          |   | March 31, 2011 |      |   | December 31, 2010 |   |
|                                                                          |   | Carrying       |      |   | Fair              |   |   | Carrying |   |   | Fair |   |
| (In thousands)                                                                |   | Amount         |      |   | Value             |   |   | Amount |   |   | Value |   |
| Assets                                                                        |   |           |      |   |              |   |   |   |   |   |   |   |
| Cash and cash equivalents                                                     |   | $              | 184,187   |   |              | $      | 184,187 |   |   | $ | 182,056 |   |   | $ | 182,056 |   |
| Investment securities:                                                        |   |           |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
|    Available for sale                                          |   |           | 515,523   |   |              |   | 515,523 |   |   |   | 444,182 |   |   |   | 444,182 |   |
|    Held to maturity                                            |   |           | 930       |   |              |   | 871 |   |   |   | 930 |   |   |   | 844 |   |
| FHLB and similar stock                                                        |   |           | 9,516     |   |              |   | N/A |   |   |   | 9,515 |   |   |   | N/A |   |
| Loans, net                                                                    |   |           | 1,122,445 |   |              |   | 1,115,798 |   |   |   | 1,164,056 |   |   |   | 1,157,606 |   |
| Accrued interest receivable                                                   |   |           | 6,853     |   |              |   | 6,853 |   |   |   | 7,258 |   |   |   | 7,258 |   |
|                                                                          |   |           |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Liabilities                                                                   |   |           |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                                                      |   |           | 1,473,257 |   |              |   | 1,479,395 |   |   |   | 1,463,572 |   |   |   | 1,470,277 |   |
| Federal funds purchased and other short-term borrowings                       |   |           | 72,810    |   |              |   | 72,810 |   |   |   | 47,409 |   |   |   | 47,409 |   |
| Securities sold under agreements to repurchase and other long-term borrowings |   |           | 201,068   |   |              |   | 215,519 |   |   |   | 203,239 |   |   |   | 219,709 |   |
| Subordinated notes payable to unconsolidated trusts                           |   |           | 48,970    |   |              |   | 27,871 |   |   |   | 48,970 |   |   |   | 27,234 |   |
| Accrued interest payable                                                      |   |           | 2,678     |   |              |   | 2,678 |   |   |   | 2,811 |   |   |   | 2,811 |   |

|                                              |   |      |      |   |             |   |   |              |   |   |       |   |
|---------------------------------------------------|--------|-----------|-----------|--------|------------------|--------|--------|-------------------|--------|--------|------------|--------|
|                                              |   | Amortized |      |   | Gross            |   |   | Gross             |   |   | Estimated  |   |
| March 31, 2011 (In thousands)                     |   | Cost      |      |   | Unrealized Gains |   |   | Unrealized Losses |   |   | Fair Value |   |
| Available For Sale                                |   |      |      |   |             |   |   |              |   |   |       |   |
| Obligations of U.S. government-sponsored entities |   | $         | 97,279    |   |             | $      | 34     |              |   | $      |  823  |   |   | $ | 96,490 |   |
| Obligations of states and political subdivisions  |   |      | 66,702    |   |             |   | 936    |              |   |   | 767        |   |   |   | 66,871 |   |
| Mortgage-backed securities – residential    |   |      | 339,627   |   |             |   | 6,631  |              |   |   | 2,848      |   |   |   | 343,410 |   |
| Mortgage-backed securities – commercial     |   |      | 494       |   |             |   | 14     |              |   |   |       |   |   |   | 508 |   |
| U.S. Treasury securities                          |   |      | 49        |   |             |   |   |              |   |   |       |   |   |   | 49 |   |
| Money market mutual funds                         |   |      | 471       |   |             |   |   |              |   |   |       |   |   |   | 471 |   |
| Corporate debt securities                         |   |      | 7,848     |   |             |   |   |              |   |   | 499        |   |   |   | 7,349 |   |
| Equity securities                                 |   |      | 375       |   |             |   |   |              |   |   |       |   |   |   | 375 |   |
| Total securities – available for sale       |   | $         | 512,845   |   |             | $      | 7,615  |              |   | $      | 4,937      |   |   | $ | 515,523 |   |
| Held To Maturity                                  |   |      |      |   |             |   |   |              |   |   |       |   |   |   |   |   |
| Obligations of states and political subdivisions  |   | $         |  930 |   |             | $      | 0      |              |   | $      |  59   |   |   | $ |  871 |   |

----

----

|                                              |   | Amortized |    |   | Gross            |   |   | Gross             |   |   | Estimated  |   |
|---------------------------------------------------|--------|-----------|---------|--------|------------------|--------|--------|-------------------|--------|--------|------------|--------|
| December 31, 2010 (In thousands)                  |   | Cost      |    |   | Unrealized Gains |   |   | Unrealized Losses |   |   | Fair Value |   |
| Available For Sale                                |   |      |    |   |             |   |   |              |   |   |       |   |
| Obligations of U.S. government-sponsored entities |   | $         | 42,103  |   |             | $      | 58     |              |   | $      | 548        |   |   | $ | 41,613 |   |
| Obligations of states and political subdivisions  |   |      | 75,004  |   |             |   | 923    |              |   |   | 1,128      |   |   |   | 74,799 |   |
| Mortgage-backed securities – residential    |   |      | 314,799 |   |             |   | 7,527  |              |   |   | 2,396      |   |   |   | 319,930 |   |
| U.S. Treasury securities                          |   |      | 1,043   |   |             |   | 1      |              |   |   |       |   |   |   | 1,044 |   |
| Money market mutual funds                         |   |      | 145     |   |             |   |   |              |   |   |       |   |   |   | 145 |   |
| Corporate debt securities                         |   |      | 7,441   |   |             |   |   |              |   |   | 835        |   |   |   | 6,606 |   |
| Equity securities                                 |   |      | 45      |   |             |   |   |              |   |   |       |   |   |   | 45 |   |
| Total securities – available for sale       |   | $         | 440,580 |   |             | $      | 8,509  |              |   | $      | 4,907      |   |   | $ | 444,182 |   |
| Held To Maturity                                  |   |      |    |   |             |   |   |              |   |   |       |   |   |   |   |   |
| Obligations of states and political subdivisions  |   | $         | 930     |   |             | $      | 0      |              |   | $      | 86         |   |   | $ | 844 |   |

|                                   |   |               |    |   |             |   |
|----------------------------------------|--------|--------------------|---------|--------|------------------|--------|
|                                   |   | Available For Sale |    |   | Held To Maturity |   |
|                                   |   | Amortized          |    |   | Estimated        |   |   | Amortized |   |   | Estimated |   |
| March 31, 2011 (In thousands)          |   | Cost               |    |   | Fair Value       |   |   | Cost |   |   | Fair Value |   |
| Due in one year or less                |   | $                  | 5,269   |   |             | $      | 5,293 |   |   |   |   |   |   |   |
| Due after one year through five years  |   |               | 90,430  |   |             |   | 90,293 |   |   |   |   |   |   |   |
| Due after five years through ten years |   |               | 55,967  |   |             |   | 55,565 |   |   |   |   |   |   |   |
| Due after ten years                    |   |               | 20,683  |   |             |   | 20,079 |   |   | $ | 930 |   |   | $ | 871 |   |
| Mortgage-backed securities             |   |               | 340,121 |   |             |   | 343,918 |   |   |   |   |   |   |   |   |   |
| Total                                  |   | $                  | 512,470 |   |             | $      | 515,148 |   |   | $ | 930 |   |   | $ | 871 |   |

----

|                                                                      |   | Three Months Ended |   |
|---------------------------------------------------------------------------|--------|--------------------|--------|
|                                                                      |   | March 31,          |   |
| (In thousands)                                                            |   | 2011               |   |   | 2010 |   |
|                                                                      |   |               |   |   |   |   |
| Gross realized gains                                                      |   | $                  | 413    |   |   | $ | 1,612 |   |
| Gross realized losses                                                     |   |               | 3      |   |   |   |   |   |
| Net realized gains                                                        |   | $                  | 410    |   |   | $ | 1,612 |   |
| Income tax provision related to net realized gains                        |   | $                  | 144    |   |   | $ | 564 |   |
|                                                                      |   |               |   |   |   |   |   |   |
| Proceeds from sales and calls of available for sale investment securities |   | $                  | 44,333 |   |   | $ | 96,281 |   |

----

|                                              |   |                |    |   |              |   |   |       |   |
|---------------------------------------------------|--------|---------------------|---------|--------|-------------------|--------|--------|------------|--------|
|                                              |   | Less than 12 Months |    |   | 12 Months or More |   |   | Total      |   |
|  March 31, 2011 (In thousands)               |   | Fair Value          |    |   | UnrealizedLosses  |   |   | Fair Value |   |   | UnrealizedLosses |   |   | Fair Value |   |   | UnrealizedLosses |   |
| Obligations of U.S. government-sponsored entities |   | $                   | 69,250  |   |              | $      | 823    |       |   |   |   |   |   |   |   | $ | 69,250 |   |   | $ | 823 |   |
| Obligations of states and political subdivisions  |   |                | 24,160  |   |              |   | 667    |       |   | $ | 5,760 |   |   | $ | 159 |   |   |   | 29,920 |   |   |   | 826 |   |
| Mortgage-backed securities – residential    |   |                | 186,779 |   |              |   | 2,848  |       |   |   |   |   |   |   |   |   |   |   | 186,779 |   |   |   | 2,848 |   |
| Corporate debt securities                         |   |                |    |   |              |   |   |       |   |   | 5,330 |   |   |   | 499 |   |   |   | 5,330 |   |   |   | 499 |   |
| Total                                             |   | $                   | 280,189 |   |              | $      | 4,338  |       |   | $ | 11,090 |   |   | $ | 658 |   |   | $ | 291,279 |   |   | $ | 4,996 |   |

|                                              |   |                |    |   |              |   |   |       |   |
|---------------------------------------------------|--------|---------------------|---------|--------|-------------------|--------|--------|------------|--------|
|                                              |   | Less than 12 Months |    |   | 12 Months or More |   |   | Total      |   |
|  December 31, 2010 (In thousands)            |   | Fair Value          |    |   | UnrealizedLosses  |   |   | Fair Value |   |   | UnrealizedLosses |   |   | Fair Value |   |   | UnrealizedLosses |   |
| Obligations of U.S. government-sponsored entities |   | $                   | 32,000  |   |              | $      | 548    |       |   |   |   |   |   |   |   | $ | 32,000 |   |   | $ | 548 |   |
| Obligations of states and political subdivisions  |   |                | 22,517  |   |              |   | 1,028  |       |   | $ | 5,733 |   |   | $ | 186 |   |   |   | 28,250 |   |   |   | 1,214 |   |
| Mortgage-backed securities – residential    |   |                | 165,426 |   |              |   | 2,396  |       |   |   |   |   |   |   |   |   |   |   | 165,426 |   |   |   | 2,396 |   |
| Corporate debt securities                         |   |                |    |   |              |   |   |       |   |   | 4,989 |   |   |   | 835 |   |   |   | 4,989 |   |   |   | 835 |   |
| Total                                             |   | $                   | 219,943 |   |              | $      | 3,972  |       |   | $ | 10,722 |   |   | $ | 1,021 |   |   | $ | 230,665 |   |   | $ | 4,993 |   |

----

----

|                                                                                           |   | March 31, 2011 |      |   | December 31, 2010 |   |
|------------------------------------------------------------------------------------------------|--------|----------------|-----------|--------|-------------------|--------|
| (Dollars in thousands)                                                                         |   | Amount         |      |   | Amount            |   |
|                                                                                           |   |           |      |   |              |   |
| Real Estate:                                                                                   |   |           |      |   |              |   |
|     Real estate – construction and land development                  |   | $              | 148,998   |   |              | $      | 154,208 |   |
|     Real estate – residential                                        |   |           | 456,020   |   |              |   | 469,273 |   |
|     Real estate mortgage – farmland and other commercial enterprises |   |           | 405,309   |   |              |   | 416,904 |   |
| Commercial:                                                                                    |   |           |      |   |              |   |   |   |
|     Commercial and industrial                                              |   |           | 55,263    |   |              |   | 57,029 |   |
|     States and political subdivisions                                      |   |           | 25,341    |   |              |   | 26,302 |   |
|     Lease financing                                                        |   |           | 13,685    |   |              |   | 16,187 |   |
|     Other                                                                  |   |           | 21,807    |   |              |   | 25,628 |   |
| Consumer:                                                                                      |   |           |      |   |              |   |   |   |
|     Secured                                                                |   |           | 19,724    |   |              |   | 22,607 |   |
|     Unsecured                                                              |   |           | 6,267     |   |              |   | 5,925 |   |
|         Total loans                                    |   |           | 1,152,414 |   |              |   | 1,194,063 |   |
| Less unearned income                                                                           |   |           | (947      | )      |              |   | (1,223 | ) |
|         Total loans, net of unearned income       |   | $              | 1,151,467 |   |              | $      | 1,192,840 |   |

----

| Three months ended March 31, 2011 (Dollars in thousands) |   | Real Estate |   |   | Commercial |   |   | Consumer |   |   | Total  |   |
|----------------------------------------------------------|--------|-------------|--------|--------|------------|--------|--------|----------|--------|--------|--------|--------|
|                                                     |   |        |   |   |       |   |   |     |   |   |   |   |
| Balance, beginning of period                             |   | $           | 24,527 |   |       | $      | 3,260  |     |   | $      | 997    |   |   | $ | 28,784 |   |
| Provision for loan losses                                |   |        | 2,187  |   |       |   | 227    |     |   |   | 27     |   |   |   | 2,441 |   |
| Recoveries                                               |   |        | 68     |   |       |   | 39     |     |   |   | 59     |   |   |   | 166 |   |
| Loans charged off                                        |   |        | (2,173 | )      |       |   | (72    | )        |   |   | (124   | )      |   |   | (2,369 | ) |
| Balance, end of period                                   |   | $           | 24,609 |   |       | $      | 3,454  |     |   | $      | 959    |   |   | $ | 29,022 |   |

----

| Three months ended March 31, (Dollars in thousands) |   | 2010   |   |
|-----------------------------------------------------|--------|--------|--------|
|                                                |   |   |   |
| Balance, beginning of period                        |   | $      | 23,364 |   |
| Provision for loan losses                           |   |   | 1,926  |   |
| Recoveries                                          |   |   | 159    |   |
| Loans charged off                                   |   |   | (1,755 | ) |
| Balance, end of period                              |   | $      | 23,694 |   |

----

|                                              |   |           |    |   |              |   |
|---------------------------------------------------|--------|----------------|---------|--------|-------------------|--------|
| (In thousands)                                    |   | March 31, 2011 |    |   | December 31, 2010 |   |
| Loans with no allocated allowance for loan losses |   | $              | 89,981  |   |              | $      | 58,235 |   |
| Loans with allocated allowance for loan losses    |   |           | 74,346  |   |              |   | 71,785 |   |
| Total                                             |   | $              | 164,327 |   |              | $      | 130,020 |   |
|                                              |   |           |    |   |              |   |   |   |
| Amount of the allowance for loan losses allocated |   | $              | 6,466   |   |              | $      | 6,033 |   |

|                                                                               |   |           |    |
|------------------------------------------------------------------------------------|--------|----------------|---------|
| (In thousands)                                                                     |   | March 31, 2011 |    |
| Average of individually impaired loans:                                            |   |           |    |
| Real Estate                                                                        |   |           |    |
|   Real estate – construction and land development                  |   | $              | 57,996  |   |
|   Real estate mortgage – residential                               |   |           | 31,097  |   |
|   Real estate mortgage – farmland and other commercial enterprises |   |           | 73,105  |   |
| Commercial                                                                         |   |           |    |   |
|   Commercial and industrial                                              |   |           | 4,314   |   |
| Consumer                                                                           |   |           |    |   |
|   Secured                                                                |   |           | 203     |   |
| Total average of impaired loans                                                    |   | $              | 166,715 |   |
|                                                                               |   |           |    |   |
| Interest income recognized during impairment:                                      |   |           |    |   |
| Real Estate                                                                        |   |           |    |   |
|   Real estate – construction and land development                  |   | $              | 341     |   |
|   Real estate mortgage – residential                               |   |           | 351     |   |
|   Real estate mortgage – farmland and other commercial enterprises |   |           | 1,107   |   |
| Commercial                                                                         |   |           |    |   |
|   Commercial and industrial                                              |   |           | 50      |   |
| Consumer                                                                           |   |           |    |   |
|   Secured                                                                |   |           | 3       |   |
| Total interest income recognized during impairment                                 |   | $              | 1,852   |   |
|                                                                               |   |           |    |   |
| Cash-basis interest income recognized:                                             |   |           |    |   |
| Real Estate                                                                        |   |           |    |   |
|   Real estate – construction and land development                  |   | $              | 229     |   |
|   Real estate mortgage – residential                               |   |           | 353     |   |
|   Real estate mortgage – farmland and other commercial enterprises |   |           | 657     |   |
| Commercial                                                                         |   |           |    |   |
|   Commercial and industrial                                              |   |           | 50      |   |
| Consumer                                                                           |   |           |    |   |
|   Secured                                                                |   |           | 2       |   |
| Total cash-basis interest income recognized                                        |   | $              | 1,291   |   |

----

----

| March 31, 2011 (In thousands)                                                      |   | RecordedInvestment |   |   | UnpaidPrincipalBalance |   |   | Allowance forLoan LossesAllocated |   |
|------------------------------------------------------------------------------------|--------|--------------------|--------|--------|------------------------|--------|--------|-----------------------------------|--------|
| Impaired loans with no related allowance recorded:                                 |   |               |   |   |                   |   |   |                              |   |
| Real Estate                                                                        |   |               |   |   |                   |   |   |                              |   |
|   Real estate – construction and land development                  |   | $                  | 27,822 |   |                   | $      | 27,777 |                              |   |   |   |
|   Real estate mortgage – residential                               |   |               | 12,479 |   |                   |   | 12,439 |                              |   |   |   |
|   Real estate mortgage – farmland and other commercial enterprises |   |               | 45,856 |   |                   |   | 45,537 |                              |   |   |   |
| Commercial                                                                         |   |               |   |   |                   |   |   |                              |   |   |   |
|   Commercial and industrial                                              |   |               | 4,230  |   |                   |   | 4,228  |                              |   |   |   |
| Total                                                                              |   | $                  | 90,387 |   |                   | $      | 89,981 |                              |   |   |   |
|                                                                               |   |               |   |   |                   |   |   |                              |   |   |   |
| Impaired loans with an allowance recorded:                                         |   |               |   |   |                   |   |   |                              |   |   |   |
| Real Estate                                                                        |   |               |   |   |                   |   |   |                              |   |   |   |
|   Real estate – construction and land development                  |   | $                  | 28,118 |   |                   | $      | 28,068 |                              |   | $ | 2,738 |   |
|   Real estate mortgage – residential                               |   |               | 23,676 |   |                   |   | 23,545 |                              |   |   | 2,299 |   |
|   Real estate mortgage – farmland and other commercial enterprises |   |               | 22,189 |   |                   |   | 22,095 |                              |   |   | 1,098 |   |
| Commercial                                                                         |   |               |   |   |                   |   |   |                              |   |   |   |   |
|   Commercial and industrial                                              |   |               | 438    |   |                   |   | 436    |                              |   |   | 297 |   |
| Consumer                                                                           |   |               |   |   |                   |   |   |                              |   |   |   |   |
|   Secured                                                                |   |               | 203    |   |                   |   | 202    |                              |   |   | 34 |   |
| Total                                                                              |   | $                  | 74,624 |   |                   | $      | 74,346 |                              |   | $ | 6,466 |   |

----

| December 31, 2010 (In thousands)                                                   |   | RecordedInvestment |   |   | UnpaidPrincipalBalance |   |   | Allowance forLoan LossesAllocated |   |
|------------------------------------------------------------------------------------|--------|--------------------|--------|--------|------------------------|--------|--------|-----------------------------------|--------|
| Impaired loans with no related allowance recorded:                                 |   |               |   |   |                   |   |   |                              |   |
| Real Estate                                                                        |   |               |   |   |                   |   |   |                              |   |
|   Real estate – construction and land development                  |   | $                  | 27,350 |   |                   | $      | 27,298 |                              |   |   |   |
|   Real estate mortgage – residential                               |   |               | 13,103 |   |                   |   | 13,059 |                              |   |   |   |
|   Real estate mortgage – farmland and other commercial enterprises |   |               | 17,895 |   |                   |   | 17,864 |                              |   |   |   |
| Commercial                                                                         |   |               |   |   |                   |   |   |                              |   |   |   |
|   Commercial and industrial                                              |   |               | 14     |   |                   |   | 14     |                              |   |   |   |
| Total                                                                              |   | $                  | 58,362 |   |                   | $      | 58,235 |                              |   |   |   |
|                                                                               |   |               |   |   |                   |   |   |                              |   |   |   |
| Impaired loans with an allowance recorded:                                         |   |               |   |   |                   |   |   |                              |   |   |   |
| Real Estate                                                                        |   |               |   |   |                   |   |   |                              |   |   |   |
|   Real estate – construction and land development                  |   | $                  | 31,529 |   |                   | $      | 31,452 |                              |   | $ | 2,793 |   |
|   Real estate mortgage – residential                               |   |               | 20,147 |   |                   |   | 19,986 |                              |   |   | 2,051 |   |
|   Real estate mortgage – farmland and other commercial enterprises |   |               | 19,897 |   |                   |   | 19,810 |                              |   |   | 824 |   |
| Commercial                                                                         |   |               |   |   |                   |   |   |                              |   |   |   |   |
|   Commercial and industrial                                              |   |               | 447    |   |                   |   | 444    |                              |   |   | 310 |   |
| Consumer                                                                           |   |               |   |   |                   |   |   |                              |   |   |   |   |
|   Secured                                                                |   |               | 93     |   |                   |   | 93     |                              |   |   | 55 |   |
| Total                                                                              |   | $                  | 72,113 |   |                   | $      | 71,785 |                              |   | $ | 6,033 |   |

----

----

| March 31, 2011 (In thousands)                     |   | Real Estate |      |   | Commercial |   |    | Consumer |   |   | Total  |   |
|---------------------------------------------------|--------|-------------|-----------|--------|------------|--------|---------|----------|--------|--------|--------|--------|
| Allowance for Loan Losses                         |   |        |      |   |       |   |    |     |   |   |   |   |
| Ending allowance balance attributable to loans:   |   |        |      |   |       |   |    |     |   |   |   |   |
|   Individually evaluated for impairment |   | $           | 6,135     |   |       | $      | 297     |     |   | $      | 34     |   |   | $ | 6,466 |   |
|   Collectively evaluated for impairment |   |        | 18,753    |   |       |   | 2,917   |     |   |   | 886    |   |   |   | 22,556 |   |
| Total ending allowance balance                    |   | $           | 24,888    |   |       | $      | 3,214   |     |   | $      | 920    |   |   | $ | 29,022 |   |
|                                              |   |        |      |   |       |   |    |     |   |   |   |   |   |   |   |   |
| Loans                                             |   |        |      |   |       |   |    |     |   |   |   |   |   |   |   |   |
| Loans individually evaluated for impairment       |   | $           | 159,461   |   |       | $      | 4,664   |     |   | $      | 202    |   |   | $ | 164,327 |   |
| Loans collectively evaluated for impairment       |   |        | 850,866   |   |       |   | 110,485 |     |   |   | 25,789 |   |   |   | 987,140 |   |
| Total ending loan balance, net of unearned income |   | $           | 1,010,327 |   |       | $      | 115,149 |     |   | $      | 25,991 |   |   | $ | 1,151,467 |   |

----

| December 31, 2010 (In thousands)                  |   | Real Estate |      |   | Commercial |   |    | Consumer |   |   | Total  |   |
|---------------------------------------------------|--------|-------------|-----------|--------|------------|--------|---------|----------|--------|--------|--------|--------|
| Allowance for Loan Losses                         |   |        |      |   |       |   |    |     |   |   |   |   |
| Ending allowance balance attributable to loans:   |   |        |      |   |       |   |    |     |   |   |   |   |
|   Individually evaluated for impairment |   | $           | 5,668     |   |       | $      | 310     |     |   | $      | 55     |   |   | $ | 6,033 |   |
|   Collectively evaluated for impairment |   |        | 18,859    |   |       |   | 2,950   |     |   |   | 942    |   |   |   | 22,751 |   |
| Total ending allowance balance                    |   | $           | 24,527    |   |       | $      | 3,260   |     |   | $      | 997    |   |   | $ | 28,784 |   |
|                                              |   |        |      |   |       |   |    |     |   |   |   |   |   |   |   |   |
| Loans                                             |   |        |      |   |       |   |    |     |   |   |   |   |   |   |   |   |
| Loans individually evaluated for impairment       |   | $           | 129,469   |   |       | $      | 458     |     |   | $      | 93     |   |   | $ | 130,020 |   |
| Loans collectively evaluated for impairment       |   |        | 910,916   |   |       |   | 123,465 |     |   |   | 28,439 |   |   |   | 1,062,820 |   |
| Total ending loan balance, net of unearned income |   | $           | 1,040,385 |   |       | $      | 123,923 |     |   | $      | 28,532 |   |   | $ | 1,192,840 |   |

----

|  March 31, 2011 (In thousands)                                                |   | Nonaccrual |   |   | Restructured Loans |   |   | Loans Past Due 90 Days or More and Still Accruing |   |
|------------------------------------------------------------------------------------|--------|------------|--------|--------|--------------------|--------|--------|---------------------------------------------------|--------|
| Real Estate:                                                                       |   |       |   |   |               |   |   |                                              |   |
|   Real estate – construction and land development                  |   | $          | 33,054 |   |               | $      | 19,339 |                                              |   |   |   |
|   Real estate mortgage – residential                               |   |       | 11,657 |   |               |   | 8,301  |                                              |   | $ | 28 |   |
|   Real estate mortgage – farmland and other commercial enterprises |   |       | 11,980 |   |               |   | 9,106  |                                              |   |   |   |   |
| Commercial:                                                                        |   |       |   |   |               |   |   |                                              |   |   |   |   |
|   Commercial and industrial                                              |   |       | 522    |   |               |   |   |                                              |   |   |   |   |
|   Lease financing                                                        |   |       | 143    |   |               |   |   |                                              |   |   | 13 |   |
|   Other                                                                  |   |       | 64     |   |               |   |   |                                              |   |   |   |   |
| Consumer:                                                                          |   |       |   |   |               |   |   |                                              |   |   |   |   |
|   Secured                                                                |   |       | 48     |   |               |   |   |                                              |   |   |   |   |
|   Unsecured                                                              |   |       | 5      |   |               |   |   |                                              |   |   | 4 |   |
|      Total                                                |   | $          | 57,473 |   |               | $      | 36,746 |                                              |   | $ | 45 |   |

----

----

|  December 31, 2010 (In thousands)                                             |   | Nonaccrual |   |   | Restructured Loans |   |   | Loans Past Due 90 Days or More and Still Accruing |   |
|------------------------------------------------------------------------------------|--------|------------|--------|--------|--------------------|--------|--------|---------------------------------------------------|--------|
| Real Estate:                                                                       |   |       |   |   |               |   |   |                                              |   |
|   Real estate – construction and land development                  |   | $          | 35,893 |   |               | $      | 16,793 |                                              |   |   |   |
|   Real estate mortgage – residential                               |   |       | 10,728 |   |               |   | 9,147  |                                              |   | $ | 28 |   |
|   Real estate mortgage – farmland and other commercial enterprises |   |       | 6,528  |   |               |   | 11,038 |                                              |   |   |   |   |
| Commercial:                                                                        |   |       |   |   |               |   |   |                                              |   |   |   |   |
|   Commercial and industrial                                              |   |       | 627    |   |               |   |   |                                              |   |   |   |   |
|   Lease financing                                                        |   |       | 50     |   |               |   |   |                                              |   |   | 9 |   |
|   Other                                                                  |   |       | 31     |   |               |   |   |                                              |   |   |   |   |
| Consumer:                                                                          |   |       |   |   |               |   |   |                                              |   |   |   |   |
|   Secured                                                                |   |       | 109    |   |               |   |   |                                              |   |   |   |   |
|   Unsecured                                                              |   |       | 5      |   |               |   |   |                                              |   |   | 5 |   |
|      Total                                                |   | $          | 53,971 |   |               | $      | 36,978 |                                              |   | $ | 42 |   |

----

| March 31, 2011 (In thousands)                                                      |   | 30-89 Days Past Due |   |   | 90 Days or More Past Due |   |   | Total  |   |   | Current |   |   | Total Loans |      |
|------------------------------------------------------------------------------------|--------|---------------------|--------|--------|--------------------------|--------|--------|--------|--------|--------|---------|--------|--------|-------------|-----------|
| Real Estate:                                                                       |   |                |   |   |                     |   |   |   |   |   |    |   |   |        |      |
|   Real estate – construction and land development                  |   | $                   | 734    |   |                     | $      | 19,571 |   |   | $      | 20,305  |   |   | $           | 128,693   |   |   | $ | 148,998 |   |
|   Real estate mortgage – residential                               |   |                | 4,803  |   |                     |   | 6,290  |   |   |   | 11,093  |   |   |        | 444,927   |   |   |   | 456,020 |   |
|   Real estate mortgage – farmland and other commercial enterprises |   |                | 9,111  |   |                     |   | 10,452 |   |   |   | 19,563  |   |   |        | 385,746   |   |   |   | 405,309 |   |
| Commercial:                                                                        |   |                |   |   |                     |   |   |   |   |   |    |   |   |        |      |   |   |   |   |   |
|   Commercial and industrial                                              |   |                | 177    |   |                     |   | 350    |   |   |   | 527     |   |   |        | 54,736    |   |   |   | 55,263 |   |
|   States and political subdivisions                                      |   |                |   |   |                     |   |   |   |   |   |    |   |   |        | 25,341    |   |   |   | 25,341 |   |
|   Lease financing, net                                                   |   |                | 163    |   |                     |   | 155    |   |   |   | 318     |   |   |        | 12,420    |   |   |   | 12,738 |   |
|   Other                                                                  |   |                | 37     |   |                     |   | 64     |   |   |   | 101     |   |   |        | 21,706    |   |   |   | 21,807 |   |
| Consumer:                                                                          |   |                |   |   |                     |   |   |   |   |   |    |   |   |        |      |   |   |   |   |   |
|   Secured                                                                |   |                | 207    |   |                     |   | 12     |   |   |   | 219     |   |   |        | 19,505    |   |   |   | 19,724 |   |
|   Unsecured                                                              |   |                | 22     |   |                     |   |   |   |   |   | 22      |   |   |        | 6,245     |   |   |   | 6,267 |   |
|      Total                                                |   | $                   | 15,254 |   |                     | $      | 36,894 |   |   | $      | 52,148  |   |   | $           | 1,099,319 |   |   | $ | 1,151,467 |   |

----

----

| December 31, 2010 (In thousands)                                                   |   | 30-89 Days Past Due |   |   | 90 Days or More Past Due |   |   | Total  |   |   | Current |   |   | Total Loans |      |
|------------------------------------------------------------------------------------|--------|---------------------|--------|--------|--------------------------|--------|--------|--------|--------|--------|---------|--------|--------|-------------|-----------|
| Real Estate:                                                                       |   |                |   |   |                     |   |   |   |   |   |    |   |   |        |      |
|   Real estate – construction and land development                  |   | $                   | 394    |   |                     | $      | 23,418 |   |   | $      | 23,812  |   |   | $           | 130,396   |   |   | $ | 154,208 |   |
|   Real estate mortgage – residential                               |   |                | 5,187  |   |                     |   | 7,167  |   |   |   | 12,354  |   |   |        | 456,919   |   |   |   | 469,273 |   |
|   Real estate mortgage – farmland and other commercial enterprises |   |                | 1,595  |   |                     |   | 6,266  |   |   |   | 7,861   |   |   |        | 409,043   |   |   |   | 416,904 |   |
| Commercial:                                                                        |   |                |   |   |                     |   |   |   |   |   |    |   |   |        |      |   |   |   |   |   |
|   Commercial and industrial                                              |   |                | 194    |   |                     |   | 538    |   |   |   | 732     |   |   |        | 56,297    |   |   |   | 57,029 |   |
|   States and political subdivisions                                      |   |                |   |   |                     |   |   |   |   |   |    |   |   |        | 26,302    |   |   |   | 26,302 |   |
|   Lease financing, net                                                   |   |                | 276    |   |                     |   | 59     |   |   |   | 335     |   |   |        | 14,629    |   |   |   | 14,964 |   |
|   Other                                                                  |   |                | 114    |   |                     |   | 3      |   |   |   | 117     |   |   |        | 25,511    |   |   |   | 25,628 |   |
| Consumer:                                                                          |   |                |   |   |                     |   |   |   |   |   |    |   |   |        |      |   |   |   |   |   |
|   Secured                                                                |   |                | 145    |   |                     |   | 102    |   |   |   | 247     |   |   |        | 22,360    |   |   |   | 22,607 |   |
|   Unsecured                                                              |   |                | 69     |   |                     |   | 12     |   |   |   | 81      |   |   |        | 5,844     |   |   |   | 5,925 |   |
|      Total                                                |   | $                   | 7,974  |   |                     | $      | 37,565 |   |   | $      | 45,539  |   |   | $           | 1,147,301 |   |   | $ | 1,192,840 |   |

----

----

|                                                      |   | Real Estate                                   |    |   | Commercial                       |   |
|-----------------------------------------------------------|--------|-----------------------------------------------|---------|--------|----------------------------------|--------|
| March 31, 2011(In thousands)                              |   | Real Estate-Construction and Land Development |    |   | Real Estate Mortgage-Residential |   |   | Real Estate Mortgage-Farmland and Other Commercial Enterprises |   |   | Commercial and Industrial |   |   | States and Political Subdivisions |   |   | Lease Financing |   |   | Other |   |
| Credit risk profile by internally assigned rating grades: |   |                                          |    |   |                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Pass                                                      |   | $                                             | 79,522  |   |                             | $      | 393,665 |   |   | $ | 312,534 |   |   | $ | 48,263 |   |   | $ | 25,341 |   |   | $ | 12,060 |   |   | $ | 20,712 |   |
| Special Mention                                           |   |                                          | 7,873   |   |                             |   | 21,295 |   |   |   | 18,200 |   |   |   | 1,248 |   |   |   |   |   |   |   |   |   |   |   | 1,031 |   |
| Substandard                                               |   |                                          | 55,120  |   |                             |   | 36,412 |   |   |   | 69,110 |   |   |   | 5,574 |   |   |   |   |   |   |   | 678 |   |   |   | 64 |   |
| Doubtful                                                  |   |                                          | 6,483   |   |                             |   | 4,648 |   |   |   | 5,465 |   |   |   | 178 |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      Total                       |   | $                                             | 148,998 |   |                             | $      | 456,020 |   |   | $ | 405,309 |   |   | $ | 55,263 |   |   | $ | 25,341 |   |   | $ | 12,738 |   |   | $ | 21,807 |   |

----

|                                                      |   | Real Estate                                   |    |   | Commercial                       |   |
|-----------------------------------------------------------|--------|-----------------------------------------------|---------|--------|----------------------------------|--------|
| December 31, 2010(In thousands)                           |   | Real Estate-Construction and Land Development |    |   | Real Estate Mortgage-Residential |   |   | Real Estate Mortgage-Farmland and Other Commercial Enterprises |   |   | Commercial and Industrial |   |   | States and Political Subdivisions |   |   | Lease Financing |   |   | Other |   |
| Credit risk profile by internally assigned rating grades: |   |                                          |    |   |                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Pass                                                      |   | $                                             | 79,535  |   |                             | $      | 407,317 |   |   | $ | 341,684 |   |   | $ | 52,961 |   |   | $ | 26,302 |   |   | $ | 14,905 |   |   | $ | 24,360 |   |
| Special Mention                                           |   |                                          | 14,180  |   |                             |   | 18,858 |   |   |   | 31,747 |   |   |   | 2,531 |   |   |   |   |   |   |   |   |   |   |   | 1,199 |   |
| Substandard                                               |   |                                          | 57,477  |   |                             |   | 41,704 |   |   |   | 37,938 |   |   |   | 1,255 |   |   |   |   |   |   |   | 59 |   |   |   | 69 |   |
| Doubtful                                                  |   |                                          | 3,016   |   |                             |   | 1,394 |   |   |   | 5,535 |   |   |   | 282 |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      Total                       |   | $                                             | 154,208 |   |                             | $      | 469,273 |   |   | $ | 416,904 |   |   | $ | 57,029 |   |   | $ | 26,302 |   |   | $ | 14,964 |   |   | $ | 25,628 |   |

----

|                                           |   | March 31, 2011 |   |   | December 31, 2010 |   |
|------------------------------------------------|--------|----------------|--------|--------|-------------------|--------|
|                                           |   | Consumer       |   |   | Consumer          |   |
| (In thousands)                                 |   | Secured        |   |   | Unsecured         |   |   | Secured |   |   | Unsecured |   |
| Credit risk profile based on payment activity: |   |           |   |   |              |   |   |   |   |   |   |   |
| Performing                                     |   | $              | 19,683 |   |              | $      | 6,251 |   |   | $ | 22,498 |   |   | $ | 5,915 |   |
| Nonperforming                                  |   |           | 41     |   |              |   | 16 |   |   |   | 109 |   |   |   | 10 |   |
|      Total            |   | $              | 19,724 |   |              | $      | 6,267 |   |   | $ | 22,607 |   |   | $ | 5,925 |   |

----

| (In thousands)                            |   | March 31, 2011 |   |   | December 31, 2010 |   |
|-------------------------------------------|--------|----------------|--------|--------|-------------------|--------|
| Construction and land development         |   | $              | 19,916 |   |              | $      | 18,016 |   |
| Residential real estate                   |   |           | 5,452  |   |              |   | 3,203 |   |
| Farmland and other commercial enterprises |   |           | 9,003  |   |              |   | 9,326 |   |
| Total                                     |   | $              | 34,371 |   |              | $      | 30,545 |   |

----

----

| Three months ended March 31,  (In thousands) |   | 2011   |   |   | 2010   |   |
|--------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Beginning balance                                      |   | $      | 30,545 |   |   | $      | 31,232 |   |
| Transfers from loans                                   |   |   | 5,525  |   |   |   | 3,803 |   |
| Proceeds from sales                                    |   |   | (1,303 | )      |   |   | (6,761 | ) |
| Loss on sales                                          |   |   | (170   | )      |   |   | (439 | ) |
| Write downs and other decreases, net                   |   |   | (226   | )      |   |   | (1,149 | ) |
| Ending balance                                         |   | $      | 34,371 |   |   | $      | 26,686 |   |

----

|                |   | March 31, 2011                 |   |   | December 31, 2010       |   |
|---------------------|--------|--------------------------------|--------|--------|-------------------------|--------|
|                |   | Tier 1Risk-based Capital1 |   |   | TotalRisk-basedCapital1 |   |   | Tier 1Leverage2 |   |   | Tier 1Risk-based Capital1 |   |   | TotalRisk-basedCapital1 |   |   | Tier 1Leverage2 |   |
| Consolidated        |   |                           | 15.72  | %      |                    |   | 16.98 | % |   |   | 9.65 | % |   |   | 15.35 | % |   |   | 16.61 | % |   |   | 9.39 | % |
| Farmers Bank        |   |                           | 15.34  |   |                    |   | 16.61 |   |   |   | 8.56 |   |   |   | 15.59 |   |   |   | 16.86 |   |   |   | 8.55 |   |
| First Citizens Bank |   |                           | 13.81  |   |                    |   | 14.59 |   |   |   | 8.90 |   |   |   | 12.76 |   |   |   | 13.50 |   |   |   | 8.46 |   |
| United Bank         |   |                           | 13.28  |   |                    |   | 14.55 |   |   |   | 8.50 |   |   |   | 12.91 |   |   |   | 14.18 |   |   |   | 8.24 |   |
| Citizens Northern   |   |                           | 11.69  |   |                    |   | 12.95 |   |   |   | 8.48 |   |   |   | 11.42 |   |   |   | 12.68 |   |   |   | 8.04 |   |

| 1 | Tier 1 Risk-based and Total Risk-based Capital ratios are computed by dividing a bank’s Tier 1 or Total Capital, as defined by regulation, by a risk-weighted sum of the bank’s assets, with the risk weighting determined by general standards established by regulation. The safest assets (e.g., government obligations) are assigned a weighting of 0% with riskier assets receiving higher ratings (e.g., ordinary commercial loans are assigned a weighting of 100%). |
|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2 | Tier 1 Leverage ratio is computed by dividing a bank’s Tier 1 Capital, as defined by regulation, by its total quarterly average assets. |
|---|-----------------------------------------------------------------------------------------------------------------------------------------------|

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----

----

----

|   | § | The $900 thousand decrease in net income for the current quarter compared to a year earlier was driven mainly by a $515 thousand or 26.7% increase in the provision for loan losses, lower investment securities gains of $1.2 million or 74.6%, partially offset by lower noninterest expenses of $1.2 million or 7.4%. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | § | The provision for loan losses was $2.4 million in the current quarter compared to $1.9 million a year ago. The increase in the provision for loan losses in the current period is due mainly to a higher amount of specific allocations related to impaired loans. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | § | The decrease in net gains on the sale of investment securities in the comparison resulted from the timing of the sale of investment securities from the available for sale portfolio. The Company periodically sells investment securities to refine its securities portfolio for normal asset-liability management or to lock in gains to help offset operating expenses and support capital. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | § | Net interest income increased $206 thousand or 1.5%. The increase in net interest income was driven by lower interest expense of $3.4 million or 34.4%, which offset a decrease in interest income of $3.2 million or 13.7%. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | § | Net interest margin was 3.18% in the current quarter, an increase of 25 basis points from 2.93% compared to a year earlier. Net interest spread was 2.94%, an increase of 18 basis points compared to 2.76%. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | § | Noninterest expenses decreased $1.2 million or 7.4% in the comparison. Significant declines include expenses related to repossessed real estate of $992 thousand or 59.3%, salaries and employee benefits of $331 thousand or 4.7%, deposit insurance expense of $217 thousand or 19.6%, and data processing and communication expense of $215 thousand or 14.9%. These decreases were partially offset by two non-routine losses in the aggregate amount of $1.0 million. One of these losses relates to a fraudulent transaction on a deposit account involving one of the Company’s customers totaling $700 thousand for which the Company is filing insurance claims seeking possible recovery of this loss. The other loss relates to a $303 thousand write-down attributed to uncollectible amounts of property tax receivables at the Company’s leasing subsidiary. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | § | Income tax expense increased $209 thousand or 36.5% in the quarterly comparison and is discussed in further detail under the heading “Income Taxes”. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | § | Return on average assets (“ROA”) and equity (“ROE”) was .22% and 2.80%, respectively for the current quarter compared to .36% and 5.25% for the previous-year first quarter. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Quarter Ended March 31,                                                                                                                 |   | 2011           |           |   | 2010     |   |
|-----------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|----------------|--------|----------|--------|
|  (In thousands)                                                                                                                    |   | AverageBalance |           |   | Interest |   |   | AverageRate |   |   | AverageBalance |   |   | Interest |   |   | AverageRate |   |
| Earning Assets                                                                                                                          |   |           |           |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Investment securities                                                                                                                   |   |           |           |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Taxable                                                                                                                                 |   | $              | 407,817        |   |     | $      | 3,370 |   |   |   | 3.35 | % |   | $ | 435,081 |   |   | $ | 4,699 |   |   |   | 4.38 | % |
| Nontaxable1                                                                                                                             |   |           | 66,099         |   |     |   | 785 |   |   |   | 4.82 |   |   |   | 94,999 |   |   |   | 1,252 |   |   |   | 5.34 |   |
| Interest bearing deposits in banks, federal funds sold and securities purchased under agreements to resell                              |   |           | 155,608        |   |     |   | 85 |   |   |   | .22 |   |   |   | 152,431 |   |   |   | 84 |   |   |   | .22 |   |
| Loans1,2,3                                                                                                                              |   |           | 1,173,677      |   |     |   | 16,399 |   |   |   | 5.67 |   |   |   | 1,264,314 |   |   |   | 17,975 |   |   |   | 5.77 |   |
| Total earning assets                                                                                                                    |   |           | 1,803,201      |   |     | $      | 20,639 |   |   |   | 4.64 | % |   |   | 1,946,825 |   |   | $ | 24,010 |   |   |   | 5.00 | % |
| Allowance for loan losses                                                                                                               |   |           | (28,938        | )      |     |   |   |   |   |   |   |   |   |   | (23,709 | ) |   |   |   |   |   |   |   |   |
| Total earning assets, net of allowance for loan losses                                                                                  |   |           | 1,774,263      |   |     |   |   |   |   |   |   |   |   |   | 1,923,116 |   |   |   |   |   |   |   |   |   |
| Nonearning Assets                                                                                                                       |   |           |           |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash and due from banks                                                                                                                 |   |           | 20,233         |   |     |   |   |   |   |   |   |   |   |   | 93,696 |   |   |   |   |   |   |   |   |   |
| Premises and equipment, net                                                                                                             |   |           | 39,291         |   |     |   |   |   |   |   |   |   |   |   | 38,815 |   |   |   |   |   |   |   |   |   |
| Other assets                                                                                                                            |   |           | 124,301        |   |     |   |   |   |   |   |   |   |   |   | 132,271 |   |   |   |   |   |   |   |   |   |
| Total assets                                                                                                                            |   | $              | 1,958,088      |   |     |   |   |   |   |   |   |   |   | $ | 2,187,898 |   |   |   |   |   |   |   |   |   |
| Interest Bearing Liabilities                                                                                                            |   |           |           |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                                                                                                                |   |           |           |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest bearing demand                                                                                                                 |   | $              | 260,828        |   |     | $      | 94 |   |   |   | .15 | % |   | $ | 272,481 |   |   | $ | 144 |   |   |   | .21 | % |
| Savings                                                                                                                                 |   |           | 285,784        |   |     |   | 352 |   |   |   | .50 |   |   |   | 265,083 |   |   |   | 460 |   |   |   | .70 |   |
| Time                                                                                                                                    |   |           | 710,504        |   |     |   | 3,501 |   |   |   | 2.00 |   |   |   | 896,074 |   |   |   | 6,098 |   |   |   | 2.76 |   |
| Federal funds purchased and other short-term borrowings                                                                                 |   |           | 46,086         |   |     |   | 62 |   |   |   | .55 |   |   |   | 49,213 |   |   |   | 92 |   |   |   | .76 |   |
| Securities sold under agreements to     repurchase and other long-term     borrowings |   |           |   250,591 |   |     |   |   2,503 |   |   |   |   4.05 |   |   |   |    316,066 |   |   |   |   3,138 |   |   |   |   4.03 |   |
| Total interest bearing liabilities                                                                                                      |   |           | 1,553,793      |   |     | $      | 6,512 |   |   |   | 1.70 | % |   |   | 1,798,917 |   |   | $ | 9,932 |   |   |   | 2.24 | % |
| Noninterest Bearing Liabilities                                                                                                         |   |           |           |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commonwealth of Kentucky deposits                                                                                                       |   |           | 325            |   |     |   |   |   |   |   |   |   |   |   | 2,769 |   |   |   |   |   |   |   |   |   |
| Other demand deposits                                                                                                                   |   |           | 207,416        |   |     |   |   |   |   |   |   |   |   |   | 203,155 |   |   |   |   |   |   |   |   |   |
| Other liabilities                                                                                                                       |   |           | 45,229         |   |     |   |   |   |   |   |   |   |   |   | 32,910 |   |   |   |   |   |   |   |   |   |
| Total liabilities                                                                                                                       |   |           | 1,806,763      |   |     |   |   |   |   |   |   |   |   |   | 2,037,751 |   |   |   |   |   |   |   |   |   |
| Shareholders’ equity                                                                                                              |   |           | 151,325        |   |     |   |   |   |   |   |   |   |   |   | 150,147 |   |   |   |   |   |   |   |   |   |
| Total liabilities and shareholders’ equity                                                                                        |   | $              | 1,958,088      |   |     |   |   |   |   |   |   |   |   | $ | 2,187,898 |   |   |   |   |   |   |   |   |   |
| Net interest income                                                                                                                     |   |           |           |   |     |   | 14,127 |   |   |   |   |   |   |   |   |   |   |   | 14,078 |   |   |   |   |   |
| TE basis adjustment                                                                                                                     |   |           |           |   |     |   | (471 | ) |   |   |   |   |   |   |   |   |   |   | (628 | ) |   |   |   |   |
| Net interest income                                                                                                                     |   |           |           |   |     | $      | 13,656 |   |   |   |   |   |   |   |   |   |   | $ | 13,450 |   |   |   |   |   |
| Net interest spread                                                                                                                     |   |           |           |   |     |   |   |   |   |   | 2.94 | % |   |   |   |   |   |   |   |   |   |   | 2.76 | % |
| Impact of noninterest bearing sources of funds                                                                                          |   |           |           |   |     |   |   |   |   |   | .24 |   |   |   |   |   |   |   |   |   |   |   | .17 |   |
| Net interest margin                                                                                                                     |   |           |           |   |     |   |   |   |   |   | 3.18 | % |   |   |   |   |   |   |   |   |   |   | 2.93 | % |

----

----

| (In thousands)                                                                                             |   | Variance |      |          | Variance Attributed to |   |   |
|------------------------------------------------------------------------------------------------------------|--------|----------|-----------|---------------|------------------------|--------|--------|
| Quarter Ended March 31,                                                                                    |   |     | 2011/2010 | 1             |                   | Volume |   | Rate |   |   |
|                                                                                                       |   |     |      |          |                   |   |   |   |   |   |
| Interest Income                                                                                            |   |     |      |          |                   |   |   |   |   |   |
| Taxable investment securities                                                                              |   | $        | (1,329    | )        |                   | $      | (280   | )   | $ | (1,049 | )   |
| Nontaxable investment securities2                                                                          |   |     | (467      | )        |                   |   | (354   | )   |   | (113 | )   |   |
| Interest bearing deposits in banks, federal funds sold and securities purchased under agreements to resell |   |     | 1         |          |                   |   | 1      |   |   |   |   |   |
| Loans2                                                                                                     |   |     | (1,576    | )   |                   |   | (1,269 | )  |   | (307 | )   |
| Total interest income                                                                                      |   |     | (3,371    | )   |                   |   | (1,902 | )   |   | (1,469 | )   |
| Interest Expense                                                                                           |   |     |      |          |                   |   |   |   |   |   |   |   |
| Interest bearing demand deposits                                                                           |   |     | (50       | )   |                   |   | (6     | )   |   | (44 | )   |
| Savings deposits                                                                                           |   |     | (108      | )   |                   |   | 205    |   |   | (313 | )   |
| Time deposits                                                                                              |   |     | (2,597    | )   |                   |   | (1,115 | )   |   | (1,482 | )   |
| Federal funds purchased and other short-term borrowings                                                    |   |     | (30       | )   |                   |   | (6     | )   |   | (24 | )   |
| Securities sold under agreements to repurchase and     other long-term borrowings |   |     | (635      | )        |                   |   | (743   | )   |   | 108 |   |
| Total interest expense                                                                                     |   |     | (3,420    | )   |                   |   | (1,665 | )   |   | (1,755 | )   |
| Net interest income                                                                                        |   | $        | 49        |          |                   | $      | (237   | )   | $ | 286 |   |
| Percentage change                                                                                          |   |     | 100.0     | %             |                   |   | (483.7 | )% |   | 583.7 | % |

| 1 | The changes that are not solely due to rate or volume are allocated on a percentage basis using the absolute values of rate and volume variances as a basis for allocation. |
|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2 | Income stated at fully tax equivalent basis using the marginal corporate Federal tax rate of 35%. |
|---|---------------------------------------------------------------------------------------------------|

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----

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----

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|                                                             |   | March 31, 2011 |      |   | December 31, 2010 |   |
|------------------------------------------------------------------|--------|----------------|-----------|--------|-------------------|--------|
| (Dollars in thousands)                                           |   | Amount         |      |   | %                 |   |   | Amount |   |   | % |   |
|                                                             |   |           |      |   |              |   |   |   |   |   |   |   |
| Commercial, financial, and agriculture                           |   | $              | 102,411   |   |              |   | 8.9 | % |   | $ | 108,959 |   |   |   | 9.1 | % |
| Real estate – construction                                 |   |           | 148,998   |   |              |   | 12.9 |   |   |   | 154,208 |   |   |   | 12.9 |   |
| Real estate mortgage - residential                               |   |           | 456,020   |   |              |   | 39.6 |   |   |   | 469,273 |   |   |   | 39.3 |   |
| Real estate mortgage - farmland and other commercial enterprises |   |           | 405,309   |   |              |   | 35.2 |   |   |   | 416,904 |   |   |   | 35.0 |   |
| Installment                                                      |   |           | 25,991    |   |              |   | 2.3 |   |   |   | 28,532 |   |   |   | 2.4 |   |
| Lease financing                                                  |   |           | 12,738    |   |              |   | 1.1 |   |   |   | 14,964 |   |   |   | 1.3 |   |
| Total                                                            |   | $              | 1,151,467 |   |              |   | 100.0 | % |   | $ | 1,192,840 |   |   |   | 100.0 | % |

----

----

----

| (In thousands)                                                             |   | March 31, 2011 |   |   | December 31, 2010 |   |
|----------------------------------------------------------------------------|--------|---------------------|--------|--------|------------------------|--------|
| Nonaccrual Loans                                                           |   |                |   |   |                   |   |
| Real Estate:                                                               |   |                |   |   |                   |   |
| Real estate-construction and land development                              |   | $                   | 33,054 |   |                   | $      | 35,893 |   |
| Real estate mortgage-residential                                           |   |                | 11,657 |   |                   |   | 10,728 |   |
| Real estate mortgage-farmland and other commercial enterprises             |   |                | 11,980 |   |                   |   | 6,528 |   |
| Commercial:                                                                |   |                |   |   |                   |   |   |   |
| Commercial and industrial                                                  |   |                | 522    |   |                   |   | 627 |   |
| Lease financing                                                            |   |                | 143    |   |                   |   | 50 |   |
| Other                                                                      |   |                | 64     |   |                   |   | 31 |   |
| Consumer:                                                                  |   |                |   |   |                   |   |   |   |
| Secured                                                                    |   |                | 48     |   |                   |   | 109 |   |
| Unsecured                                                                  |   |                | 5      |   |                   |   | 5 |   |
|   Total nonaccrual loans                                         |   | $                   | 57,473 |   |                   | $      | 53,971 |   |
|                                                                       |   |                |   |   |                   |   |   |   |
| Restructured Loans                                                         |   |                |   |   |                   |   |   |   |
| Real Estate:                                                               |   |                |   |   |                   |   |   |   |
| Real estate-construction and land development                              |   | $                   | 19,339 |   |                   | $      | 16,793 |   |
| Real estate mortgage-residential                                           |   |                | 8,301  |   |                   |   | 9,147 |   |
| Real estate mortgage-farmland and other commercial enterprises             |   |                | 9,106  |   |                   |   | 11,038 |   |
|   Total restructured loans                                       |   | $                   | 36,746 |   |                   | $      | 36,978 |   |
|                                                                       |   |                |   |   |                   |   |   |   |
| Past Due 90 Days or More and Still Accruing                                |   |                |   |   |                   |   |   |   |
| Real Estate:                                                               |   |                |   |   |                   |   |   |   |
| Real estate mortgage-residential                                           |   | $                   | 28     |   |                   | $      | 28 |   |
| Commercial:                                                                |   |                |   |   |                   |   |   |   |
| Lease financing                                                            |   |                | 13     |   |                   |   | 9 |   |
| Consumer:                                                                  |   |                |   |   |                   |   |   |   |
| Unsecured                                                                  |   |                | 4      |   |                   |   | 5 |   |
|   Total past due 90 days or more and still accruing              |   | $                   | 45     |   |                   | $      | 42 |   |
|                                                                       |   |                |   |   |                   |   |   |   |
| Total nonperforming loans                                                  |   | $                   | 94,264 |   |                   | $      | 90,991 |   |
|                                                                       |   |                |   |   |                   |   |   |   |
| Ratio of total nonperforming loans to total loans (net of unearned income) |   |                | 8.2    | %      |                   |   | 7.6 | % |

----

----

|                |   | End of Period |      |   | Average          |   |
|---------------------|--------|---------------|-----------|--------|------------------|--------|
| (In thousands)      |   | March 31,2011 |      |   | December 31,2010 |   |   | Difference |   |   | (Three Months)March 31,2011 |   |   | (Twelve Months)December 31,2010 |   |   | Difference |   |
| Noninterest Bearing |   |          |      |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commonwealth        |   | $             | 89        |   |             | $      | 643 |   |   | $ | (554 | ) |   | $ | 325 |   |   | $ | 1,347 |   |   | $ | (1,022 | ) |
| Other               |   |          | 215,972   |   |             |   | 206,244 |   |   |   | 9,728 |   |   |   | 207,416 |   |   |   | 209,020 |   |   |   | (1,604 | )  |
| Total               |   | $             | 216,061   |   |             | $      | 206,887 |   |   | $ | 9,174 |   |   | $ | 207,741 |   |   | $ | 210,367 |   |   | $ | (2,626 | ) |
|                |   |          |      |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest Bearing    |   |          |      |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand              |   | $             | 267,163   |   |             | $      | 259,569 |   |   | $ | 7,594 |   |   | $ | 260,828 |   |   | $ | 258,674 |   |   | $ | 2,154 |   |
| Savings             |   |          | 285,708   |   |             |   | 283,272 |   |   |   | 2,436 |   |   |   | 285,784 |   |   |   | 272,080 |   |   |   | 13,704 |   |
| Time                |   |          | 704,325   |   |             |   | 713,814 |   |   |   | (9,489 | ) |   |   | 710,504 |   |   |   | 807,730 |   |   |   | (97,226 | ) |
| Total               |   | $             | 1,257,196 |   |             | $      | 1,256,655 |   |   | $ |  541 |   |   | $ | 1,257,116 |   |   | $ | 1,338,484 |   |   | $ | (81,368 | ) |
|                |   |          |      |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Deposits      |   | $             | 1,473,257 |   |             | $      | 1,463,542 |   |   | $ | 9,715 |   |   | $ | 1,464,857 |   |   | $ | 1,548,851 |   |   | $ | (83,994 | ) |

----

----

----

----

|                    |   | March 31, 2011                 |   |   | December 31, 2010       |   |
|-------------------------|--------|--------------------------------|--------|--------|-------------------------|--------|
|                    |   | Tier 1Risk-based Capital1 |   |   | TotalRisk-basedCapital1 |   |   | Tier 1Leverage2 |   |   | Tier 1Risk-based Capital1 |   |   | TotalRisk-basedCapital1 |   |   | Tier 1Leverage2 |   |
| Consolidated            |   |                           | 15.72  | %      |                    |   | 16.98 | % |   |   | 9.65 | % |   |   | 15.35 | % |   |   | 16.61 | % |   |   | 9.39 | % |
|                    |   |                           |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Farmers Bank 3          |   |                           | 15.34  |   |                    |   | 16.61 |   |   |   | 8.56 |   |   |   | 15.59 |   |   |   | 16.86 |   |   |   | 8.55 |   |
| First Citizens Bank     |   |                           | 13.81  |   |                    |   | 14.59 |   |   |   | 8.90 |   |   |   | 12.76 |   |   |   | 13.50 |   |   |   | 8.46 |   |
| United Bank3            |   |                           | 13.28  |   |                    |   | 14.55 |   |   |   | 8.50 |   |   |   | 12.91 |   |   |   | 14.18 |   |   |   | 8.24 |   |
| Citizens Northern3      |   |                           | 11.69  |   |                    |   | 12.95 |   |   |   | 8.48 |   |   |   | 11.42 |   |   |   | 12.68 |   |   |   | 8.04 |   |
|                    |   |                           |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Regulatory minimum      |   |                           | 4.00   |   |                    |   | 8.00 |   |   |   | 4.00 |   |   |   | 4.00 |   |   |   | 8.00 |   |   |   | 4.00 |   |
| Well-capitalized status |   |                           | 6.00   |   |                    |   | 10.00 |   |   |   | 5.00 |   |   |   | 6.00 |   |   |   | 10.00 |   |   |   | 5.00 |   |

| 1 | Tier 1 Risk-based and Total Risk-based Capital ratios are computed by dividing a bank’s Tier 1 or Total Capital, as defined by regulation, by a risk-weighted sum of the bank’s assets, with the risk weighting determined by general standards established by regulation. The safest assets (e.g., government obligations) are assigned a weighting of 0% with riskier assets receiving higher ratings (e.g., ordinary commercial loans are assigned a weighting of 100%). |
|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2 | Tier 1 Leverage ratio is computed by dividing a bank’s Tier 1 Capital, as defined by regulation, by its total quarterly average assets. |
|---|-----------------------------------------------------------------------------------------------------------------------------------------------|

| 3 | See Note 8 to the Company’s unaudited consolidated financial statements included as part of this Form 10-Q for minimum capital ratios required as part of the banks regulatory agreement. |
|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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----

----

| 3.1    | Articles of Incorporation of Farmers Capital Bank Corporation (incorporated by reference to Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2006, the Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2003, and Current Report on Form 8-K dated January 13, 2009). |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                             |
| 3.2    | Amended and Restated Bylaws of Farmers Capital Bank Corporation (incorporated by reference to Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2009).                                                                                                                                  |
|   |                                                                                                                                                                                                                                                                                                             |
| 4.1*   | Junior Subordinated Indenture, dated as of July 21, 2005, between Farmers Capital Bank Corporation and Wilmington Trust Company, as Trustee, relating to unsecured junior subordinated deferrable interest notes that mature in 2035.                                                                            |
|   |                                                                                                                                                                                                                                                                                                             |
| 4.2*   | Amended and Restated Trust Agreement, dated as of July 21, 2005, among Farmers Capital Bank Corporation, as Depositor, Wilmington Trust Company, as Property and Delaware Trustee, the Administrative Trustees (as named therein), and the Holders (as defined therein).*                                        |
|   |                                                                                                                                                                                                                                                                                                             |
| 4.3*   | Guarantee Agreement, dated as of July 21, 2005, between Farmers Capital Bank Corporation, as Guarantor, and Wilmington Trust Company, as Guarantee Trustee.*                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                             |
| 4.4*   | Junior Subordinated Indenture, dated as of July 26, 2005, between Farmers Capital Bank Corporation and Wilmington Trust Company, as Trustee, relating to unsecured junior subordinated deferrable interest notes that mature in 2035.*                                                                           |
|   |                                                                                                                                                                                                                                                                                                             |
| 4.5*   | Amended and Restated Trust Agreement, dated as of July 26, 2005, among Farmers Capital Bank Corporation, as Depositor, Wilmington Trust Company, as Property and Delaware Trustee, the Administrative Trustees (as named therein), and the Holders (as defined therein).*                                        |
|   |                                                                                                                                                                                                                                                                                                             |
| 4.6*   | Guarantee Agreement, dated as of July 26, 2005, between Farmers Capital Bank Corporation, as Guarantor, and Wilmington Trust Company, as Guarantee Trustee.*                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                             |
| 4.7*   | Indenture, dated as of August 14, 2007 between Farmers Capital Bank Corporation, as Issuer, and Wilmington Trust Company, as Trustee, relating to fixed/floating rate junior subordinated debt due 2037.*                                                                                                        |
|   |                                                                                                                                                                                                                                                                                                             |
| 4.8*   | Amended and Restated Declaration of Trust, dated as of August 14, 2007, by Farmers Capital Bank Corporation, as Sponsor, Wilmington Trust Company, as Delaware and Institutional Trustee, the Administrative Trustees (as named therein), and the Holders (as defined therein).*                                 |
|   |                                                                                                                                                                                                                                                                                                             |
| 4.9*   | Guarantee Agreement, dated as of August 14, 2007, between Farmers Capital Bank Corporation, as Guarantor, and Wilmington Trust Company, as Guarantee Trustee.*                                                                                                                                                   |
|   |                                                                                                                                                                                                                                                                                                             |
| 4.10   | Form of Certificate for Fixed Rate Cumulative Perpetual Preferred Stock, Series A(incorporated by reference to the Current Report on Form 8-K dated January 13, 2009).                                                                                                                                           |
|   |                                                                                                                                                                                                                                                                                                             |
| 4.11   | Warrant for Purchase of Shares of Common Stock(incorporated by reference to the Current Report on Form 8-K dated January 13, 2009).                                                                                                                                                                              |
|   |                                                                                                                                                                                                                                                                                                             |
| 10.1   | Agreement and Plan of Merger, Dated July 1, 2005, as Amended, by and among Citizens Bancorp, Inc., Citizens Acquisition Subsidiary Corp, and Farmers Capital Bank Corporation(incorporated by reference to Appendix A of Registration Statement filed on Form S-4 on October 11, 2005).                          |

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| 10.2   | Amended and Restated Plan of Merger of Citizens National Bancshares, Inc. with and into FCBC Acquisition Subsidiary, LLC (incorporated by reference to Appendix A of Proxy Statement for Special Meeting of Shareholders of Citizens National Bancshares, Inc. and Prospectus in connection with an offer of up to 600,000 shares of its common stock of Farmers Capital Bank Corporation filed on Form 424B3 on August 7, 2006). |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 10.3   | Stock Purchase Agreement Dated June 1, 2006 by and among Farmers Capital Bank Corporation, Kentucky Banking Centers, Inc. and Citizens First Corporation (incorporated by reference to Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2008).                                                                                                                                                          |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 31.1** | CEO Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 31.2** | CFO Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 32**   | CEO & CFO Certifications Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                              |

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| Date:  | May 5, 2011 |   | /s/ Lloyd C. Hillard, Jr.                    |
|--------|-------------|--------|----------------------------------------------|
|   |        |   | Lloyd C. Hillard, Jr.                        |
|   |        |   | President and CEO                            |
|   |        |   | (Principal Executive Officer)                |
|   |        |   |                                         |
| Date:  | May 5, 2011 |   | /s/ Doug Carpenter                           |
|   |        |   | C. Douglas Carpenter                         |
|   |        |   | Executive Vice President, Secretary, and CFO |
|   |        |   | (Principal Financial and Accounting Officer) |