NOTE 27 — BRANCH CLOSURES

In the fourth quarter of 2016, the Company announced that it would be closing the following branches in the first quarter of 2017:  Bloomfield and Jasonville, Indiana and Piqua, Ohio.  As of December 31, 2016, the three branches had approximately $53 million in total deposits. Included in the operating results of 2016 are $389 of impairment costs for the affected properties, $75 of severance costs, and $20 of other costs related to the closing of the branches.

In the fourth quarter of 2015, the Company announced that it would be closing the following branches in the second quarter of 2016:  one of two branches in the following cities in Indiana – Rushville, New Castle, and Crawfordsville,  Indiana and its branch in Bourbonnais, Illinois.  Included in the operating results of 2015 are $175 of impairment costs for the affected properties and $75 of severance costs.

In the second quarter of 2014, the Company closed three branches in the following locations: Griffith, Indiana and the downtown branch located in Linton, Indiana, and one of its branches located in Frankfort, Kentucky. As of December 31, 2013, the three branches had approximately $22 million in total deposits.  Included in the operating results of 2014 are $550 of impairment costs for the affected properties, $25 of severance costs, and $25 of other costs related to the closing of the branches.