Middlebury National Corporation

Consolidated Balance Sheet (unaudited)

September 30,	2018	2017
Assets
Cash & Due from Bank	$8,570,646	$10,747,082
Federal Reserve Bank Balance	$6,954,198	$14,848,758
Securities	$72,852,401	$77,462,354
Loans, Net	$247,469,511	$232,745,507
Bank Premises & Equipment, Net	$6,897,440	$7,031,477
Other Assets	$14,985,316	$14,734,971
Total Assets	$357,729,512	$357,570,149
Liabilities & Shareholders' Equity
Deposits	$308,360,536	$312,425,547
Securities Sold Under Repurchase Agreements	$7,896,041	$7,955,457
Other Borrowed Money	$5,650,246	$962,710
Other Liabilities	$2,712,754	$3,526,017
Total Liabilities	$324,619,577	$324,869,731
Shareholders' Equity
Common Stock & Related Surplus	$1,400,000	$1,400,000
Treasury Stock	$(905,365)	$(744,943)
Accumulated Other Comprehensive Income (Loss)	$(1,495,663)	$58,424
Retained Earnings	$34,110,963	$31,986,937
Total Shareholders' Equity	$33,109,935	$32,700,418
Total Liabilities & Shareholders' Equity	$357,729,512	$357,570,149
Per Share Book Value 880,682 & 885,402 shares outstanding	$37.60	$36.93

Nine Months Ended September 30,	2018	2017
Total Interest Income	$9,330,688	$8,396,285
Total Interest Expense	$415,873	$257,983
Net Interest Income	$8,914,815	$8,138,302
Provision for Loan Losses	$100,000	$40,000
Net Interest Income After Provision for Loan Losses	$8,814,815	$8,098,302
Other Operating Income	$2,158,690	$2,187,322
Other Operating Expenses	$8,056,486	$7,717,787
Income Before Income Taxes	$2,917,019	$2,567,837
Income Tax Expense	$460,980	$697,493
Net Income	$2,456,039	$1,870,344
Earnings Per Share	$2.79	$2.11