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FSB Third Quarter Earnings 2012

Waterloo, Iowa, based Farmers State Bank, has continued to thrive and support its customers in the Cedar Valley throughout the economic hardships of the past several years. The Bank has been able to expand their loyal customer base into the Cedar Falls, Gilbertville and La Porte City areas since 2007, and looks forward to opening its newly constructed 9th branch in beautiful downtown Cedar Falls in the Spring of 2013.

Originally opened and locally owned since 1879, Farmers State Bank has seen tremendous growth in the 21st century. Beginning with an asset size of just $50 million in January 2000, the Company's size has increased to $425 million at the end of the third quarter 2012. This growth has allowed the Bank to provide employment to a growing number of Cedar Valley residents. In 2012 alone, the Bank has added an additional 17 employees, bringing the total to 80 full and part time staff members. While many banks have reduced the loans on their books, gross loans outstanding at FSB have increased $58 million (28%) while total deposits increased $17 million (7%) during the first nine months of 2012.

The Bank’s net income has also followed this pattern of growth with year to date net income of $6.19 million as of 9/30/12, compared to $3.67 million through the same quarter-end 2011, an increase of $2.52 million or 68%. The Bank staff looks forward to continuing their mission of helping their customers succeed with the technology and personal service they provide