Middlebury National Corporation

Consolidated Balance Sheet (unaudited)

March 31	2017	2016
Assets
Cash & Due from Bank	$8,165,203	$7,799,145
Federal Reserve Bank Balance	$16,788,334	$8,936,260
Securities	$78,625,128	$80,453,682
Loans, Net	$223,087,260	$209,028,387
Bank Premises & Equipment, Net	$7,105,831	$7,434,001
Other Assets	$13,605,118	$13,165,020
Total Assets	$347,376,874	$326,816,495
Liabilities & Shareholders' Equity
Deposits	$304,716,138	$281,119,360
Securities Sold Under Repurchase Agreements	$7,310,645	$7,522,050
Other Borrowed Money	$481,594	$3,499,052
Other Liabilities	$3,207,369	$3,513,823
Total Liabilities	$315,715,746	$295,654,285
Shareholders' Equity
Common Stock & Related Surplus	$1,400,000	$1,400,000
Treasury Stock	$(745,665)	$(750,950)
Accumulated Other Comprehensive Income (Loss)	$(97,502)	$866,473
Retained Earnings	$31,104,295	$29,646,687
Total Shareholders' Equity	$31,661,128	$31,162,210
Total Liabilities & Shareholders' Equity	$347,376,874	$326,816,495
Per Share Book Value 885,382 and 885,232 shares outstanding	$35.76	$35.20

Three Months Ended March 31	2017	2016
Total Interest Income	$2,707,848	$2,613,955
Total Interest Expense	$91,276	$113,001
Net Interest Income	$2,616,572	$2,500,954
Provision for Loan Losses	$20,000	$0
Net Interest Income After Provision for Loan Losses	$2,596,572	$2,500,954
Other Operating Income	$764,899	$618,626
Other Operating Expenses	$2,557,303	$2,446,303
Income Before Income Taxes	$804,168	$673,277
Income Tax Expense	$214,895	$173,652
Net Income	$589,273	$499,625
Earnings Per Share	$0.67	$0.56