American National Bankshares Inc
(NASDAQ:AMNB)

American National Bankshares Inc. operates as the bank holding company for American National Bank and Trust Company that provides financial products and services in Virginia and North Carolina. The company operates through two segments, Community Banking, and Trust and Investment Services. It accept...

Website: http://www.amnb.com

Founded: 1909

Full Time Employees: 341

Sector: Financial Services

Industry: Banks-Regional

Financial Services Regional Bank

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At a glance:

Bull Thesis:

Bear Thesis:

Main Competitors:

Moat:

Income Statements:

Quarterly

Annual

Unit: USD	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-09-30	2019-06-30	2019-03-31	2017-06-30	2017-03-31	2016-09-30	2016-06-30	2015-03-31

interest and dividend income:
interest and fees on loans	27,995,000	27,512,000	26,052,000	24,912,000	23,544,000	21,160,000	19,076,000	18,788,000	21,706,000	21,974,000	21,087,000	22,273,000	22,654,000	22,346,000	21,379,000	21,321,000	22,470,000	22,629,000	15,638,000	13,752,000	12,704,000	12,032,000	11,642,000	11,770,000
interest and dividends on securities:
taxable	2,503,000	2,564,000	2,607,000	2,684,000	2,721,000	2,664,000	2,441,000	2,239,000	2,012,000	1,896,000	1,769,000	1,632,000	1,536,000	1,545,000	1,646,000	2,037,000	1,890,000	1,980,000	1,821,000	1,133,000	1,154,000	1,112,000	1,150,000	975,000
tax-exempt	24,000	24,000	26,000	65,000	110,000	110,000	97,000	90,000	92,000	94,000	96,000	103,000	103,000	107,000	111,000	112,000	134,000	239,000	287,000	509,000	635,000	767,000	817,000	960,000
dividends	147,000	163,000	196,000	170,000	126,000	118,000	116,000	113,000	115,000	112,000	117,000	119,000	121,000	122,000	128,000	132,000	135,000	105,000	84,000	84,000	79,000	74,000	93,000	82,000
other interest income	767,000	797,000	550,000	471,000	415,000	1,099,000	800,000	177,000	223,000	201,000	98,000	77,000	84,000	59,000	33,000	264,000	329,000	258,000	266,000	125,000	109,000	78,000	67,000	48,000
total interest and dividend income	31,436,000	31,060,000	29,431,000	28,302,000	26,916,000	25,151,000	22,530,000	21,407,000	24,148,000	24,277,000	23,167,000	24,204,000	24,498,000	24,179,000	23,297,000	23,866,000	24,958,000	25,211,000	18,096,000	15,603,000	14,681,000	14,063,000	13,769,000	13,839,000
interest expense:
interest on deposits	9,694,000	9,057,000	6,607,000	3,486,000	1,597,000	741,000	646,000	569,000	655,000	781,000	922,000	1,287,000	1,821,000	2,118,000	2,478,000	3,312,000	3,655,000	3,520,000	2,472,000	1,352,000	1,200,000	1,291,000	1,314,000	1,194,000
interest on short-term borrowings	1,765,000	938,000	1,282,000	1,205,000	633,000	11,000	9,000	6,000	3,000	3,000	5,000	11,000	22,000	42,000	66,000	129,000	162,000	178,000	172,000	14,000	28,000	4,000	1,000	3,000
interest on long-term borrowings	295,750	402,000	394,000		289,000	392,000	385,000	379,000	338,000	400,000	469,000	483,000	380,750	524,000				14,000		81,000	80,000	81,000	81,000	80,000
total interest expense	11,888,000	10,397,000	8,283,000	5,078,000	2,628,000	1,144,000	1,040,000	954,000	1,044,000	1,184,000	1,396,000	1,781,000	2,352,000	2,684,000	3,037,000	3,947,000	4,336,000	4,222,000	3,028,000	1,691,000	1,547,000	1,599,000	1,609,000	1,461,000
net interest income	19,548,000	20,663,000	21,148,000	23,224,000	24,288,000	24,007,000	21,490,000	20,453,000	23,104,000	23,093,000	21,771,000	22,423,000	22,146,000	21,495,000	20,260,000	19,919,000	20,622,000	20,989,000	15,068,000	13,912,000	13,134,000	12,464,000	12,160,000	12,378,000
benefit from (recovery of) credit losses	436,000	-538,000	268,000	329,000
net interest income after benefit from (recovery of) credit losses	19,112,000	21,201,000	20,880,000	22,895,000
noninterest income:
wealth management income	1,721,000	1,736,000	1,726,000	1,568,000	1,522,000	1,603,000	1,587,000	1,809,000
service charges on deposit accounts	531,000	565,000	564,000	556,000	597,000	681,000	709,000	689,000	695,000	664,000	630,000	622,000	677,000	618,000	541,000	721,000	783,000	724,000	594,000	501,000	484,000	514,000	514,000	497,000
interchange fees	1,317,000	1,162,000	1,187,000	1,110,000	1,117,000	1,013,000	996,000	981,000
other fees and commissions	157,000	169,000	158,000	482,000	207,000	233,000	200,000	266,000	-2,843,000	1,147,000	1,358,000	1,139,000	1,037,000	996,000	951,000	941,000	1,003,000	1,015,000	708,000	733,000	712,000	663,000	656,000	588,000
mortgage banking income	190,000	293,000	197,000	144,000	176,000	388,000	429,000	673,000	746,000	989,000	1,142,000	1,318,000	1,042,000	1,030,000	893,000	549,000	710,000	586,000	406,000	462,000	529,000	512,000	365,000	222,000
securities losses	-17,000			-68,000
income from small business investment companies	44,000	453,000	108,000	327,000	-263,000	501,000	678,000	493,000	462,000	491,000	591,000	428,000	236,000	98,000	-119,000	55,000	143,000	-137,000	168,000	6,000	26,000		72,000
income from insurance investments	170,000	128,000	120,000	29,000	103,000	100,000	97,000	447,000	137,000	132,000	141,000	788,000
losses on premises and equipment	-42,000		-8,000		-146,000	-2,000	-84,000		-297,000	-107,000	-432,000	-49,000	-24,250	-15,000		-82,000
other	747,000	268,000	303,000	329,000	297,000	243,000	225,000	238,000	228,000	231,000	222,000	252,000	25,000	341,000	444,000	274,000	267,000	315,000	191,000	215,000	157,000	211,000	354,000	587,000
total noninterest income	4,835,000	4,774,000	4,355,000	4,372,000	3,610,000	4,760,000	4,837,000	5,600,000	4,844,000	5,123,000	5,142,000	5,922,000	4,221,000	4,292,000	3,835,000	4,495,000	4,171,000	3,682,000	3,451,000	3,348,000	3,271,000	3,120,000	3,367,000	3,156,000
noninterest expense:
salaries and employee benefits	9,655,000	9,229,000	8,300,000	9,172,000	9,446,000	9,618,000	8,720,000	8,598,000	8,461,000	8,185,000	8,178,000	7,518,000	8,225,000	7,989,000
occupancy and equipment	1,543,000	1,601,000	1,631,000	1,444,000	1,499,000	1,514,000	1,520,000	1,542,000	1,484,000	1,513,000	1,502,000	1,533,000	1,470,000	1,423,000	1,327,000	1,366,000	1,448,000	1,431,000	1,084,000	1,148,000	1,068,000	1,004,000	1,059,000	1,172,000
fdic assessment	351,000	354,000	492,000	207,000	209,000	227,000	228,000	239,000	220,000	194,000	226,000	224,000	206,000	162,000	176,000	95,000	-175,000	169,000	125,000	134,000	129,000	138,000	193,000	185,000
bank franchise tax	502,000	520,000	520,000	510,000	501,000	488,000	488,000	476,000	446,000	440,000	443,000	438,000	425,000	426,000	425,000	426,000	411,000	412,000	290,000	263,000	256,000	257,000	256,000	235,000
core deposit intangible amortization	204,250	262,000	272,000	283,000	240,000	310,000	320,000	330,000	278,250	361,000	371,000	381,000	391,000	402,000	417,000	427,000	448,000	458,000	55,000	203,000	165,000	213,000	288,000	301,000
data processing	954,000	821,000	939,000	851,000	864,000	818,000	781,000	847,000	734,000	748,000	698,000	778,000	764,000	705,000	785,000	763,000	589,000	717,000	532,000	502,000	487,000	437,000	459,000	462,000
software	438,000	470,000	476,000	444,000	417,000	362,000	363,000	363,000	357,000	344,000	338,000	329,000	342,000	353,000	403,000	356,000	287,000	321,000	324,000	271,000	279,000	301,000	274,000	283,000
other real estate owned		-10,000			-1,000	3,000	2,000	-1,000	-17,000	21,000	10,000	117,000	26,000	28,000	15,000	-9,000	47,000	-44,000	13,000	68,000	43,000	105,000	76,000	53,000
merger related expenses	875,000	1,702,000
total noninterest expense	17,876,000	18,343,000	16,182,000	15,648,000	16,834,000	16,448,000	15,455,000	15,349,000	15,463,000	14,843,000	14,637,000	14,065,000	14,659,000	14,140,000	12,432,000	13,334,000	13,792,000	26,316,000	10,929,000	10,711,000	10,441,000	9,867,000	9,656,000	10,047,000
income before income taxes	6,071,000	7,632,000	9,053,000	11,619,000	9,905,000	11,704,000	10,291,000	11,462,000	14,440,000	12,891,000	13,628,000	14,280,000	11,123,000	9,028,000	6,904,000	10,127,000	11,013,000	-1,635,000	7,574,000	6,199,000	5,664,000	5,617,000	5,821,000	4,887,000
income taxes	1,996,000	1,844,000	1,913,000	2,462,000	1,872,000	2,448,000	2,151,000	2,463,000	3,147,000	2,713,000	2,862,000	2,991,000	2,329,000	1,801,000		1,585,000	2,321,000	-405,000	1,571,000	1,920,000	1,601,000	1,654,000	1,733,000	1,372,000
net income	4,075,000	5,788,000	7,140,000	9,157,000	8,033,000	9,256,000	8,140,000	8,999,000	11,293,000	10,178,000	10,766,000	11,289,000	8,794,000	7,227,000	5,482,000	8,542,000	8,692,000	-1,230,000	6,003,000	4,279,000	4,063,000	3,963,000	4,088,000	3,515,000
yoy	-49.27%	-37.47%	-12.29%	1.76%	-28.87%	-9.06%	-24.39%	-20.29%	28.42%	40.83%	96.39%	32.16%	1.17%	-687.56%	-8.68%	99.63%	113.93%	-131.04%	46.84%	21.74%
qoq	-29.60%	-18.94%	-22.03%	13.99%	-13.21%	13.71%	-9.55%	-20.31%	10.96%	-5.46%	-4.63%	28.37%	21.68%	31.83%	-35.82%	-1.73%	-806.67%	-120.49%	40.29%	5.32%	2.52%	-3.06%	16.30%
net income per common share:
basic	380	540	670	860	760	870	760	840	1,040	940	990	1,030	810	660	500	770	780	-110	690	500	470	460	470	400
diluted	380	540	670	860	760	870	760	840	1,050	940	990	1,030	800	660	500	770	780	-110	690	490	470	460	470	400
weighted-average common shares outstanding:
basic	10,627,709,000	10,625,709,000	10,623,571,000	10,630,571,000	10,672,314,000	10,640,952,000	10,688,294,000	10,754,287,000	10,873,817,000	10,833,875,000	10,919,333,000	10,971,466,000	10,981,623,000	10,966,645,000	10,959,545,000	11,025,185,000	11,127,603,000	11,126,800,000	8,745,174,000					8,723,633,000
diluted	10,628,559,000	10,625,709,000	10,624,859,000	10,632,681,000	10,674,613,000	10,643,073,000	10,690,496,000	10,756,902,000	10,877,231,000	10,836,293,000	10,923,156,000	10,976,177,000	10,985,790,000	10,969,901,000	10,963,248,000	11,031,310,000	11,138,008,000	11,126,800,000	8,745,723,000					8,732,679,000
interest on subordinated debt				387,000											123,000	122,000	123,000	122,000
gains on premises and equipment				-105,000				4,000									-2,000	-87,000
benefit from (recovery of) loan losses					1,159,000	615,000							585,000	2,619,000	4,759,000			-10,000	16,000
net interest income after benefit from (recovery of) loan losses					23,129,000	23,392,000							21,561,000	18,876,000	15,501,000			20,999,000
(recovery of) benefit from loan losses							581,000		-217,500	482,000	-1,352,000
net interest income after (recovery of) benefit from loan losses							20,909,000		17,039,250	22,611,000	23,123,000
recovery of loan losses								-758,000									-12,000
net interest income after recovery of loan losses								21,211,000									20,634,000
trust fees									939,250	1,311,000	1,240,000	1,206,000	1,025,000	1,054,000	953,000	1,012,000	979,000	933,000	914,000	908,000	912,000	938,000	961,000	952,000
securities gains																814,000	105,000	147,000	323,000	331,000	259,000	73,000	222,000
brokerage fees									183,250	265,000	250,000	218,000	192,000	170,000	172,000	211,000	183,000	186,000	147,000	192,000	192,000	209,000	223,000
benefit from loan losses																953,000				350,000	300,000	100,000	50,000	600,000
net interest income after benefit from loan losses												22,423,000				18,966,000			15,052,000	13,562,000	12,834,000	12,364,000	12,110,000	11,778,000
interest on junior subordinated debt															370,000	384,000	396,000	388,000	384,000	244,000	239,000	223,000	213,000
salaries															4,805,000	6,059,000	6,295,000	7,048,000	4,664,000	4,733,000	4,799,000	4,626,000	4,031,000	4,147,000
employee benefits															1,386,000	1,301,000	1,367,000	1,425,000	1,230,000	1,130,000	1,183,000	1,034,000	1,055,000	1,075,000
income tax benefit															1,422,000
merger related expense																		10,871,000	451,000					359,000
average common shares outstanding:
basic																				8,640,648,000	8,633,219,000	8,608,323,000	8,610,156,000
diluted																				8,659,165,000	8,651,139,000	8,618,335,000	8,619,833,000
american national bankshares inc.
consolidated statements of comprehensive income
other comprehensive income:
unrealized gains on securities available for sale																				879,000	1,011,000	-1,424,000	583,000
tax effect																				-307,000	-354,000	499,000	-204,000
reclassification adjustment for gains on sales of securities																				-331,000	-259,000	-73,000	-222,000
other comprehensive income																				357,000	489,000	-973,000	235,000
comprehensive income																				4,636,000	4,552,000	2,990,000	4,323,000
interest on federal funds sold																								4,000
interest on trust preferred capital notes																								184,000
gains on sales of securities																								310,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31

assets
cash and due from banks	31,500,000	34,646,000	54,782,000	45,090,000	32,207,000	35,437,000	34,409,000	34,506,000	23,095,000	38,349,000	38,237,000	33,266,000	30,767,000	35,633,000	44,607,000	39,602,000	32,505,000	47,025,000	34,460,000	28,912,000	29,587,000	32,688,000	24,042,000	18,772,000	28,594,000	26,949,000	23,765,000	27,418,000	20,268,000	37,679,000	21,625,000	26,345,000	19,352,000	19,280,000	24,548,000	23,995,000	29,272,000	22,699,000	21,295,000	25,880,000	19,808,000	24,071,000	18,994,000	15,365,000	20,435,000	25,740,000	18,529,000	28,197,000	22,561,000	23,450,000	15,873,000	14,248,000	9,547,000	10,860,000	11,398,000	11,059,000	13,250,000	17,451,000	13,905,000	25,136,000	20,082,000	20,310,000	18,155,000	20,016,000	21,735,000	22,844,000	24,375,000
interest-bearing deposits in other banks	35,219,000	40,622,000	58,272,000	58,340,000	41,133,000	59,541,000	307,164,000	452,562,000	487,773,000	480,052,000	502,300,000	383,984,000	343,603,000	234,638,000	206,998,000	69,968,000	47,077,000	95,592,000	20,454,000	41,949,000	34,668,000	37,355,000	9,300,000	57,881,000	23,883,000	76,271,000	62,164,000	67,372,000	32,939,000	35,138,000	51,716,000	61,186,000	75,985,000	46,637,000	50,758,000	75,254,000	38,031,000	58,278,000	22,948,000	45,466,000	47,873,000	54,198,000	37,720,000	42,280,000	27,007,000	41,900,000	10,380,000	26,649,000	6,332,000	30,086,000	23,310,000	25,397,000	8,967,000	16,338,000	22,705,000	25,531,000	10,693,000	8,892,000	26,879,000	8,050,000	8,265,000	4,218,000	149,000				1,749,000
securities available for sale, at fair value	521,519,000	543,915,000	560,707,000	586,407,000	608,062,000	641,884,000	668,765,000	686,176,000	692,467,000	643,949,000	555,444,000	482,143,000	466,091,000	358,493,000	322,523,000	342,769,000	379,195,000	308,490,000	334,326,000	324,289,000	332,653,000	295,777,000	341,247,000	310,348,000	321,337,000	272,205,000	280,503,000	292,567,000	346,502,000	351,439,000	362,800,000	356,998,000	340,349,000	358,306,000	355,595,000	352,208,000	344,716,000	328,534,000	349,719,000	349,123,000	346,124,000	347,618,000	340,135,000	341,176,000	335,246,000	327,994,000	334,523,000	337,376,000	333,366,000	311,517,000	231,393,000	226,171,000	228,295,000	209,434,000	211,574,000	190,949,000	188,795,000	181,953,000	144,706,000	134,114,000	136,632,000	149,636,000	145,159,000	136,270,000	121,083,000	138,533,000	148,748,000
restricted stock, at cost	10,614,000	12,936,000	9,332,000	9,319,000	12,651,000	8,383,000	8,495,000	8,484,000	8,056,000	8,046,000	8,035,000	8,024,000	8,715,000	8,707,000	8,694,000	8,682,000	8,630,000	8,621,000	7,796,000	5,299,000	5,247,000	5,239,000	5,463,000	5,221,000	6,110,000	5,509,000	5,501,000	5,492,000	6,224,000	6,006,000	5,362,000	5,355,000	5,312,000	5,308,000	5,329,000	5,231,000	4,534,000	4,529,000	5,064,000	4,529,000	4,889,000	4,885,000	4,880,000	4,876,000	5,287,000	5,284,000	6,268,000	6,019,000	6,019,000	6,404,000	3,666,000	4,062,000	4,062,000	4,161,000	4,362,000	4,362,000	4,362,000
loans held for sale	1,279,000	1,981,000	4,048,000	650,000	1,061,000	2,852,000	5,227,000	2,524,000	8,481,000	9,518,000	13,807,000	17,929,000	15,591,000	6,789,000	2,845,000	2,666,000	2,027,000	5,646,000	3,165,000	1,252,000	640,000	1,934,000	2,296,000	1,792,000	1,639,000	3,386,000	2,379,000	1,872,000	5,996,000	4,776,000	4,692,000	785,000	3,266,000	2,998,000	2,720,000	1,936,000	616,000	811,000	118,000	1,389,000	2,760,000	3,919,000	4,098,000	4,395,000	13,852,000	8,118,000	9,215,000	3,774,000	6,330,000	3,359,000	2,087,000	1,309,000	3,135,000	3,952,000	2,879,000	2,208,000	2,490,000	3,840,000	10,408,000	2,269,000	2,200,000	1,681,000	1,368,000	375,000	2,306,000	2,017,000	1,662,000
loans, net of deferred fees and costs	2,288,320,000	2,273,455,000	2,244,464,000	2,199,517,000	2,186,449,000	2,119,415,000	2,030,818,000	1,988,008,000	1,946,580,000	1,940,332,000	1,914,371,000	1,978,640,000	2,015,056,000	2,086,094,000	2,101,711,000
less allowance for credit losses	-25,273,000
net loans	2,263,047,000	2,248,331,000	2,219,122,000	2,174,656,000	2,166,894,000	2,100,226,000	2,012,313,000	1,970,020,000	1,927,902,000	1,919,702,000	1,894,274,000	1,957,224,000	1,993,653,000	2,065,006,000	2,083,204,000	1,840,863,000	1,817,663,000	1,791,689,000	1,823,455,000	1,347,257,000	1,344,671,000	1,317,565,000	1,325,871,000	1,307,646,000	1,322,522,000	1,281,296,000	1,275,061,000	1,206,850,000	1,152,020,000	1,070,444,000	1,045,285,000	1,021,889,000	992,924,000	968,373,000	970,112,000	953,058,000	828,498,000	803,968,000	800,294,000	770,755,000	782,071,000	786,312,000	781,369,000	779,985,000	776,587,000	785,820,000	795,970,000	804,780,000	814,229,000	808,772,000	505,337,000	508,372,000	512,361,000	510,879,000	511,281,000	507,254,000	519,825,000	530,928,000		568,515,000	560,898,000	547,242,000		546,668,000	544,251,000	535,767,000	534,964,000
premises and equipment	31,809,000	32,167,000	32,443,000	32,440,000	32,900,000	34,686,000	34,878,000	35,383,000	35,564,000	37,021,000	37,478,000	39,336,000	39,723,000	39,979,000	39,571,000	39,632,000	39,848,000	39,261,000	39,038,000	26,663,000	26,675,000	25,690,000	25,879,000	25,759,000	25,901,000	25,923,000	26,265,000	25,658,000	25,439,000	22,846,000	22,878,000	23,241,000	23,567,000	23,854,000	24,182,000	24,371,000	23,025,000	23,085,000	23,083,000	23,359,000	23,674,000	23,982,000	24,269,000	24,297,000	24,543,000	24,885,000	25,314,000	25,833,000	25,674,000	26,263,000	19,129,000	19,308,000	19,509,000	20,142,000	19,658,000	19,145,000	19,195,000	19,390,000	18,912,000	16,825,000	13,659,000	13,392,000	13,348,000
assets held-for-sale	1,131,000	1,131,000	1,131,000	1,382,000	1,382,000
other real estate owned, net of valuation allowance			27,000	27,000	27,000	143,000	143,000	143,000	143,000	213,000	213,000	443,000	958,000	999,000	984,000
goodwill	85,048,000	85,048,000	85,048,000	85,048,000	85,048,000	85,048,000	85,048,000	85,048,000	85,048,000	85,048,000	85,048,000	85,048,000	85,048,000	85,048,000	85,048,000	85,048,000	84,002,000	84,633,000	84,633,000	43,872,000	43,872,000	43,872,000	43,872,000	43,872,000	43,872,000	43,872,000	43,872,000	43,872,000	43,872,000	43,872,000	43,872,000	43,872,000	43,872,000	44,333,000	44,210,000	44,210,000	39,043,000	39,043,000	39,043,000	39,043,000	39,043,000	39,043,000	39,043,000	39,043,000	39,043,000	39,043,000	39,352,000	39,352,000	38,899,000	37,709,000	22,468,000	22,468,000	22,468,000	22,468,000	22,468,000	22,468,000	22,468,000	22,468,000	22,468,000	22,468,000	22,468,000	22,468,000	22,468,000	22,468,000	22,468,000	22,468,000	22,468,000
core deposit intangibles	2,298,000	2,550,000	2,812,000	3,084,000	3,367,000	3,667,000	3,977,000	4,297,000	4,627,000	4,978,000	5,339,000	5,710,000	6,091,000	6,482,000	6,884,000	7,301,000	7,728,000	8,165,000	8,613,000	871,000	926,000	981,000	1,037,000	1,114,000	1,191,000	1,271,000	1,351,000	1,554,000	1,719,000	1,894,000	2,107,000	2,395,000	2,683,000	2,983,000	3,283,000	3,583,000	2,045,000	2,271,000	2,498,000	2,828,000	3,159,000	3,489,000	3,819,000	4,240,000	4,660,000	5,081,000	5,502,000	6,048,000	6,595,000	7,142,000	1,132,000	1,226,000	1,320,000	1,415,000	1,509,000	1,603,000	1,698,000	1,792,000	1,886,000	2,169,000	2,264,000	2,358,000	2,452,000	2,546,000	2,641,000	2,735,000	2,829,000
bank owned life insurance	30,409,000	30,197,000	30,022,000	29,853,000	29,692,000	29,480,000	29,318,000	29,159,000	29,107,000	28,950,000	28,791,000	28,635,000	28,482,000	28,278,000	28,122,000	27,970,000	27,817,000	27,612,000	27,451,000	19,047,000	18,941,000	18,785,000	18,674,000	18,566,000	18,460,000	18,491,000	18,381,000	18,270,000	18,163,000	17,998,000	17,885,000	17,773,000	17,658,000	17,491,000	17,376,000	17,261,000	15,193,000	15,044,000	14,945,000	14,845,000	14,746,000	14,597,000	14,495,000	14,391,000	13,487,000	13,380,000	13,273,000	13,165,000	13,058,000
other assets	76,844,000	57,734,000	55,417,000	49,359,000	51,478,000	47,973,000	43,991,000	37,936,000	32,334,000	33,237,000	32,618,000	31,690,000	31,288,000	33,252,000	35,059,000
total assets	3,090,717,000	3,091,258,000	3,113,163,000	3,075,655,000	3,065,902,000	3,049,320,000	3,233,728,000	3,346,238,000	3,334,597,000	3,289,063,000	3,201,584,000	3,073,432,000	3,050,010,000	2,903,304,000	2,864,539,000	2,495,065,000	2,478,550,000	2,454,529,000	2,418,082,000	1,868,404,000	1,862,866,000	1,806,491,000	1,824,531,000	1,817,574,000	1,816,078,000	1,780,541,000	1,764,473,000	1,715,805,000	1,678,638,000	1,615,534,000	1,601,651,000	1,582,554,000	1,547,599,000	1,512,437,000	1,524,356,000	1,540,098,000	1,346,492,000	1,319,157,000	1,300,648,000	1,299,802,000	1,307,512,000	1,324,185,000	1,294,017,000	1,294,063,000	1,283,687,000	1,305,707,000	1,290,892,000	1,323,260,000	1,304,706,000	1,305,139,000	846,016,000	845,238,000	833,664,000	824,217,000	832,644,000	810,654,000	808,973,000	810,346,000		800,645,000	790,695,000	785,049,000		767,554,000	771,137,000	787,544,000	777,720,000
liabilities and shareholders' equity
liabilities:
noninterest-bearing deposits	805,584,000	848,017,000	885,237,000	962,247,000	1,010,602,000	1,044,803,000	1,047,931,000	1,024,778,000	1,009,081,000	980,985,000	959,574,000	907,721,000	830,094,000	820,384,000
interest-bearing deposits	1,800,929,000	1,723,227,000	1,766,679,000	1,650,003,000	1,585,726,000	1,646,067,000	1,782,416,000	1,901,429,000	1,881,272,000	1,881,096,000	1,810,176,000	1,724,813,000	1,781,236,000	1,650,316,000
total deposits	2,606,513,000	2,571,244,000	2,651,916,000	2,612,250,000	2,596,328,000	2,690,870,000	2,830,347,000	2,926,207,000	2,890,353,000	2,862,081,000	2,769,750,000	2,632,534,000	2,611,330,000	2,470,700,000	2,431,776,000	2,070,667,000	2,060,547,000	2,041,862,000	1,999,097,000	1,559,790,000	1,566,227,000	1,523,107,000	1,560,746,000	1,559,251,000	1,534,726,000	1,480,205,000	1,462,841,000	1,416,104,000	1,370,640,000	1,306,008,000	1,298,385,000	1,292,431,000	1,262,660,000	1,226,521,000	1,234,018,000	1,242,675,000	1,075,837,000	1,051,060,000	1,035,800,000	1,051,249,000	1,057,675,000	1,071,083,000	1,046,394,000	1,037,748,000	1,027,667,000	1,052,427,000	1,042,485,000	1,074,730,000	1,058,754,000	1,064,477,000	658,950,000	663,483,000	640,098,000	625,630,000	630,151,000	609,621,000	604,273,000	596,295,000		589,057,000	569,244,000	581,539,000		586,154,000	595,744,000	606,034,000	608,528,000
customer repurchase agreements	59,348,000	60,035,000	62,886,000	63,220,000	370,000	625,000	32,038,000	38,527,000	41,128,000	26,595,000	35,440,000	39,205,000	42,551,000	41,906,000	46,296,000	42,114,000	40,475,000	38,924,000	37,222,000	35,945,000	35,243,000	29,104,000	6,776,000	10,466,000	10,726,000	43,240,000	48,282,000	47,776,000	39,166,000	44,090,000	53,369,000	42,184,000	40,611,000	43,579,000	50,123,000	53,664,000	53,480,000	51,945,000	38,420,000	34,153,000	39,478,000	44,026,000	41,972,000	46,666,000	49,942,000	45,761,000	46,113,000	48,651,000	45,575,000	43,758,000	50,329,000	43,871,000	47,084,000	54,285,000	61,665,000	60,372,000	65,929,000	71,339,000	59,437,000	44,951,000
other short-term borrowings	35,000,000	85,000,000	25,000,000	25,000,000	100,531,000														13,528,000				5,500,000		24,000,000				20,000,000	15,000,000									12,000,000										3,000,000				6,110,000					4,000,000		25,920,000
junior subordinated debt	28,435,000	28,410,000	28,384,000	28,359,000	28,334,000				28,232,000				28,130,000		28,080,000	28,054,000	28,029,000	28,003,000	27,978,000	27,953,000	27,927,000	27,902,000	27,876,000	27,851,000	27,826,000	27,800,000	27,775,000	27,749,000	27,724,000	27,698,000	27,673,000	27,648,000	27,622,000	27,597,000
other liabilities	18,253,000	19,291,000	16,887,000	17,785,000	19,165,000	16,127,000	15,629,000	18,173,000	20,092,000	21,793,000	20,580,000	24,244,000	22,605,000	23,108,000	23,446,000
total liabilities	2,747,549,000	2,763,980,000	2,785,073,000	2,746,614,000	2,744,728,000	2,735,930,000	2,906,297,000	3,011,164,000	2,979,805,000	2,938,676,000	2,853,951,000	2,731,639,000	2,712,116,000	2,571,323,000	2,537,106,000	2,171,772,000	2,158,292,000	2,137,283,000	2,106,165,000	1,638,931,000	1,640,324,000	1,590,425,000	1,611,183,000	1,607,734,000	1,607,361,000	1,570,327,000	1,557,420,000	1,511,564,000	1,477,258,000	1,411,821,000	1,398,947,000	1,382,111,000	1,349,764,000	1,315,986,000	1,329,473,000	1,343,409,000	1,172,712,000	1,145,992,000	1,128,565,000	1,129,303,000	1,139,961,000	1,158,359,000	1,131,081,000	1,129,031,000	1,120,441,000	1,143,662,000	1,132,468,000	1,168,236,000	1,151,877,000	1,153,778,000	734,826,000	735,866,000	725,577,000	713,349,000	723,884,000	703,472,000	702,584,000	705,441,000		697,931,000	688,799,000	682,176,000		668,220,000	673,888,000	690,904,000	682,728,000
commitments and contingencies
shareholders' equity:
preferred stock, 5 par value, 2,000,000 shares authorized, none outstanding
common stock	10,551,000	10,544,000	10,535,000	10,536,000	10,538,000	10,533,000	10,588,000	10,638,000	10,710,000	10,715,000	10,811,000	10,894,000	10,926,000	10,919,000	10,911,000	10,898,000	11,019,000	11,063,000	11,089,000	8,705,000	8,668,000	8,661,000	8,654,000	8,621,000	8,604,000	8,600,000	8,595,000	8,591,000	8,578,000	8,573,000	8,572,000	8,575,000	8,605,000	8,611,000	8,671,000	8,710,000	7,872,000	7,843,000	7,840,000	7,905,000	7,891,000	7,886,000	7,872,000
capital in excess of par value	142,834,000	142,392,000	141,954,000	141,713,000	141,948,000	141,694,000	143,337,000	144,848,000	147,777,000	148,069,000	150,947,000	153,651,000	154,850,000	154,495,000	154,222,000	153,817,000	158,244,000	159,792,000	160,572,000	78,738,000	78,172,000	77,842,000	77,496,000	76,525,000	76,179,000	75,943,000	75,691,000	75,445,000	75,076,000	74,839,000	74,753,000	74,744,000	75,375,000	75,524,000	76,826,000	77,612,000	57,650,000	57,087,000	56,944,000	58,202,000	58,050,000	57,905,000	57,581,000	57,341,000	57,211,000	57,045,000	56,825,000	56,633,000	56,395,000	56,094,000	27,670,000	27,541,000	27,268,000	27,200,000	27,131,000	27,063,000	26,962,000	26,900,000	26,772,000	26,439,000	26,463,000	26,472,000	26,425,000	26,364,000	26,422,000	26,456,000	26,414,000
retained earnings	232,847,000	231,962,000	229,363,000	225,409,000	223,664,000	218,814,000	212,524,000	207,373,000	201,380,000	193,107,000	185,843,000	178,015,000	169,681,000	163,855,000	159,586,000	157,064,000	151,478,000	147,030,000	141,339,000	145,351,000	141,537,000	138,715,000	135,108,000	131,299,000	127,010,000	126,507,000	123,795,000	121,590,000	119,600,000	117,543,000	115,648,000	113,628,000	111,565,000	109,030,000	106,984,000	106,102,000	104,594,000	103,515,000	102,152,000	100,721,000	99,090,000	97,762,000	95,333,000	92,933,000	90,591,000	88,478,000	86,642,000	84,171,000	81,797,000	77,092,000	74,810,000	75,214,000	74,850,000	74,409,000	73,590,000	72,985,000	72,208,000	71,445,000	70,682,000	70,962,000	70,233,000	69,866,000	69,409,000	68,188,000	67,122,000	65,726,000	64,584,000
accumulated other comprehensive loss	-43,064,000	-57,620,000	-53,762,000	-48,617,000	-54,976,000	-57,651,000	-39,018,000	-27,785,000									-483,000	-639,000	-1,083,000	-3,321,000	-5,835,000	-9,152,000	-7,910,000	-6,605,000	-3,076,000	-836,000	-1,028,000	-1,385,000																															-936,000
total shareholders' equity	343,168,000	327,278,000	328,090,000	329,041,000	321,174,000	313,390,000	327,431,000	335,074,000	354,792,000	350,387,000	347,633,000	341,793,000	337,894,000	331,981,000	327,433,000	323,293,000	320,258,000	317,246,000	311,917,000	229,473,000	222,542,000	216,066,000	213,348,000	209,840,000	208,717,000	210,214,000	207,053,000	204,241,000	201,380,000	203,713,000	202,704,000	200,443,000	197,835,000	196,451,000	194,883,000	196,689,000	173,780,000	173,165,000	172,083,000	170,499,000	167,551,000	165,826,000	162,936,000	165,032,000	163,246,000	162,045,000	158,424,000	155,024,000	152,829,000	151,361,000	111,190,000	109,372,000	108,087,000	110,868,000	108,760,000	107,182,000	106,389,000	104,905,000		102,714,000	101,896,000	102,873,000		99,334,000	97,249,000	96,640,000	94,992,000
total liabilities and shareholders' equity	3,090,717,000	3,091,258,000	3,113,163,000	3,075,655,000	3,065,902,000	3,049,320,000	3,233,728,000	3,346,238,000	3,334,597,000	3,289,063,000	3,201,584,000	3,073,432,000	3,050,010,000	2,903,304,000	2,864,539,000	2,495,065,000	2,478,550,000	2,454,529,000	2,418,082,000	1,868,404,000	1,862,866,000	1,806,491,000	1,824,531,000	1,817,574,000	1,816,078,000	1,780,541,000	1,764,473,000	1,715,805,000	1,678,638,000	1,615,534,000	1,601,651,000	1,582,554,000	1,547,599,000	1,512,437,000	1,524,356,000	1,540,098,000	1,346,492,000	1,319,157,000	1,300,648,000	1,299,802,000	1,307,512,000	1,324,185,000	1,294,017,000	1,294,063,000	1,283,687,000	1,305,707,000	1,290,892,000	1,323,260,000	1,304,706,000	1,305,139,000	846,016,000	845,238,000	833,664,000	824,217,000	832,644,000	810,654,000	808,973,000	810,346,000		800,645,000	790,695,000	785,049,000		767,554,000	771,137,000	787,544,000	777,720,000
less allowance for credit losses - loans		-25,124,000	-25,342,000	-24,861,000
liabilities
shareholders' equity
less allowance for loan losses					-19,555,000	-19,189,000	-18,505,000	-17,988,000	-18,678,000	-20,630,000	-20,097,000	-21,416,000	-21,403,000	-21,088,000	-18,507,000	-14,065,000	-13,152,000	-12,758,000	-12,786,000	-12,806,000	-12,805,000	-13,588,000	-13,508,000	-13,575,000	-13,603,000	-13,858,000	-13,632,000	-13,108,000	-12,801,000	-12,757,000	-12,674,000	-12,675,000	-12,601,000	-12,611,000	-12,793,000	-12,844,000	-12,427,000	-12,620,000	-12,763,000	-12,614,000	-12,600,000	-12,684,000	-12,676,000	-12,528,000	-12,118,000	-11,998,000	-12,099,000	-11,691,000	-10,529,000	-9,086,000	-8,744,000	-8,257,000	-8,420,000	-8,542,000	-8,135,000	-8,112,000	-8,166,000	-8,260,000	-7,934,000	-8,083,000	-7,932,000	-7,425,000	-7,395,000	-7,334,000	-7,493,000
long-term borrowings						28,308,000	28,283,000	28,257,000		28,207,000	28,181,000	35,656,000		35,609,000												9,996,000	9,991,000	9,985,000	9,980,000	9,974,000	9,969,000	9,963,000	9,958,000	9,952,000	9,947,000	9,941,000	9,935,000	9,930,000	9,924,000	9,919,000	9,951,000	9,983,000	10,015,000	10,047,000	10,079,000	10,111,000	10,142,000	10,175,000	10,206,000	10,238,000	413,000	4,450,000	8,488,000	8,525,000	8,563,000	8,600,000	8,638,000	8,675,000	8,712,000	13,825,000
subordinated debt													7,500,000		7,508,000	7,513,000	7,517,000	7,521,000	7,526,000
accumulated other comprehensive income									-5,075,000	-1,504,000	32,000	-767,000	2,437,000	2,712,000	2,714,000	1,514,000													-1,874,000	2,758,000	3,731,000	3,496,000	2,290,000	3,286,000	2,402,000	4,265,000	3,664,000	4,720,000	5,147,000	3,671,000	2,520,000	2,273,000	2,150,000	6,895,000	7,597,000	8,679,000	7,121,000	6,390,000	6,830,000	5,372,000	2,553,000	464,000	-159,000	3,133,000	1,914,000	1,011,000	1,109,000	453,000		-778,000	-898,000	435,000	-442,000	-1,339,000	-2,441,000
demand deposits -- noninterest bearing															824,679,000	567,772,000	578,606,000	604,498,000	554,400,000	425,579,000	435,828,000	420,486,000	420,795,000	400,225,000	394,344,000	402,100,000	390,603,000	381,247,000	378,600,000	339,797,000	321,442,000	321,599,000	322,442,000	305,110,000	294,342,000	289,818,000	254,458,000	244,469,000	228,588,000	218,795,000	229,347,000	231,583,000	213,123,000	210,201,000	217,275,000	215,012,000	196,727,000	199,066,000	179,148,000	170,398,000	115,329,000	117,260,000	105,240,000	101,578,000	100,099,000	101,190,000	101,735,000	105,100,000	101,449,000	102,065,000	98,005,000	101,195,000	99,231,000	105,014,000	107,206,000	116,940,000	106,885,000
demand deposits -- interest bearing															406,322,000	343,291,000	328,015,000	323,871,000	326,105,000	242,802,000	234,621,000	230,984,000	251,056,000	233,973,000	226,914,000	225,279,000	218,714,000	222,356,000	209,430,000	196,696,000	205,440,000	231,970,000	227,030,000	220,562,000	239,582,000	229,721,000	193,432,000	185,982,000	189,700,000	170,894,000	167,736,000	170,641,000	169,204,000	154,407,000	153,578,000	152,706,000	149,229,000	168,757,000	189,212,000	188,480,000	95,453,000	96,686,000	90,012,000	91,301,000	92,771,000	98,968,000	97,025,000	92,012,000	91,424,000	107,228,000	105,809,000	103,365,000	104,751,000	105,004,000	110,482,000	113,778,000	107,170,000
money market deposits															562,061,000	524,234,000	504,651,000	450,022,000	451,343,000	379,668,000	401,461,000	362,575,000	383,963,000	409,290,000	403,024,000	336,752,000	339,106,000	314,495,000	283,035,000	255,748,000	252,118,000	218,543,000	200,495,000	191,534,000	190,799,000	202,706,000	174,000,000	173,192,000	165,090,000	194,528,000	185,270,000	181,559,000	173,696,000	173,724,000	166,111,000	164,266,000	170,505,000	174,110,000	182,347,000	199,172,000	67,273,000	57,530,000	59,891,000	53,388,000	81,247,000	79,225,000	75,554,000	71,424,000	81,306,000	56,574,000	52,772,000	52,574,000	50,254,000	52,271,000	50,749,000	52,856,000	50,948,000
savings deposits															200,518,000	181,564,000	177,505,000	176,803,000	178,723,000	135,289,000	132,360,000	135,702,000	132,839,000	134,171,000	126,786,000	124,025,000	125,237,000	126,774,000	120,720,000	119,476,000	116,047,000	119,286,000	115,383,000	108,992,000	109,732,000	110,104,000	90,130,000	88,226,000	88,539,000	89,024,000	85,724,000	85,016,000	84,489,000	83,966,000	81,135,000	78,665,000	78,842,000	78,650,000	74,193,000	72,428,000	63,632,000	63,236,000	62,522,000	62,841,000	64,425,000	64,721,000	61,873,000	62,420,000	62,768,000	59,563,000	61,469,000	64,198,000	62,400,000	63,565,000	66,948,000	69,083,000	69,517,000
time deposits															438,196,000	453,806,000	471,770,000	486,668,000	488,526,000	376,452,000	361,957,000	373,360,000	372,093,000	381,592,000	383,658,000	392,049,000	389,181,000	371,232,000	378,855,000	394,291,000	403,338,000	401,033,000	397,310,000	400,323,000	399,563,000	410,326,000	363,817,000	359,191,000	363,883,000	378,008,000	389,598,000	402,284,000	405,882,000	415,450,000	409,568,000	441,778,000	447,182,000	454,147,000	433,854,000	433,999,000	317,263,000	328,771,000	322,433,000	316,522,000	291,609,000	265,517,000	268,086,000	265,339,000	278,284,000	263,627,000	251,189,000	260,207,000	264,585,000	260,300,000	260,359,000	253,377,000	274,008,000
preferred stock, 5 par, 2,000,000 shares authorized, none outstanding
loans, net of unearned income																1,854,928,000	1,830,815,000	1,804,447,000	1,836,241,000	1,360,063,000	1,357,476,000	1,331,153,000	1,339,379,000	1,321,221,000	1,336,125,000	1,295,154,000	1,288,693,000	1,219,958,000	1,164,821,000	1,083,201,000	1,057,959,000	1,034,564,000	1,005,525,000	980,984,000	982,905,000	965,902,000	840,925,000	816,588,000	813,057,000	783,369,000	794,671,000	798,996,000	794,045,000	792,513,000	788,705,000	797,818,000	808,069,000	816,471,000	824,758,000	817,858,000	514,081,000	516,629,000	520,781,000	519,421,000	519,416,000	515,366,000	527,991,000		557,042,000	576,598,000	568,830,000	554,667,000	551,391,000	554,002,000	551,744,000	543,357,000	542,228,000
other real estate owned, net of valuation allowance of 407 in 2020 and 153 in 2019																984,000
accrued interest receivable and other assets																29,580,000	30,750,000	36,442,000	33,133,000	26,278,000	22,287,000	23,602,000	23,549,000	22,567,000	21,344,000	23,267,000	23,545,000	23,216,000	24,168,000	22,297,000	22,140,000	21,222,000	20,447,000	21,541,000	23,722,000	22,722,000	19,400,000	18,531,000	19,019,000	19,352,000	19,943,000	17,856,000	19,626,000	18,193,000	17,347,000	22,203,000	27,835,000	25,698,000	26,290,000	42,134,000	15,727,000	15,999,000	16,950,000	16,080,000	16,257,000	16,458,000	16,254,000	12,534,000	12,466,000	13,966,000	14,399,000	12,705,000	13,203,000	13,981,000	13,553,000	14,129,000	14,614,000
accrued interest payable and other liabilities																23,424,000	21,724,000	20,973,000	20,814,000	15,243,000	10,927,000	10,312,000	10,285,000	10,166,000	10,083,000	9,086,000	8,531,000	9,950,000	9,748,000	9,051,000	9,551,000	9,885,000	8,913,000	8,337,000	7,814,000	9,583,000	5,939,000	5,562,000	4,951,000	6,538,000	5,438,000	5,873,000	5,332,000	7,227,000	5,436,000	8,071,000	6,461,000	7,443,000	7,130,000	8,115,000	4,515,000	3,443,000	3,178,000	4,290,000	2,886,000	4,260,000	3,125,000	4,513,000	4,866,000	3,559,000	3,475,000	5,714,000	4,909,000	3,807,000	3,898,000	4,675,000	5,126,000
equity securities, at fair value																			125,000	2,069,000	1,830,000	2,087,000	2,177,000	2,320,000
other real estate owned, net of valuation allowance of 153 in 2019 and 109 in 2018																	1,308,000
other real estate owned, net of valuation allowance of 155 in 2019 and 109 in 2018																		1,353,000
other real estate owned, net of valuation allowance of 144 in 2019 and 109 in 2018																			1,433,000
short-term borrowings:
other real estate owned, net of valuation allowance of 108 in 2019 and 109 in 2018																				646,000
other real estate owned, net of valuation allowance of 109 in 2018 and 147 in 2017																					869,000
other real estate owned, net of valuation allowance of 113 in 2018 and 147 in 2017																						916,000
other real estate owned, net of valuation allowance of 114 in 2018 and 147 in 2017																							1,124,000
other real estate owned, net of valuation allowance of 144 in 2018 and 147 in 2017																								1,716,000
other real estate owned, net of valuation allowance of 147 in 2017 and 192 in 2016																									1,225,000
other real estate owned, net of valuation allowance of 196 in 2017 and 192 in 2016																										2,101,000
other real estate owned, net of valuation allowance of 248 in 2017 and 134 in 2016																											1,686,000
other real estate owned, net of valuation allowance 199 in 2017 and 192 in 2016																												1,664,000
other real estate owned, net of valuation allowance of 192 in 2016 and 329 in 2015																													1,328,000
other real estate owned, net of valuation allowance 134 in 2016 and 329 in 2015																														1,145,000	1,289,000
other real estate owned, net of valuation allowance 137 in 2016 and 329 in 2015																																1,493,000
other real estate owned, net of valuation allowance of 329 in 2015 and 2,971 in 2014																																	2,184,000
other real estate owned, net of valuation allowance 359 in 2015 and 2,971 in 2014																																		1,333,000
federal funds sold																																			408,000	13,616,000
other real estate owned, net of valuation allowance 363 in 2015 and 2,971 in 2014																																			2,113,000
trust preferred capital notes																																			27,571,000	27,546,000	27,521,000	27,495,000	27,470,000	27,444,000	27,419,000	27,394,000	27,368,000	27,343,000	27,317,000	27,292,000	27,267,000	27,237,000	27,212,000	27,190,000	20,619,000	20,619,000	20,619,000	20,619,000	20,619,000	20,619,000	20,619,000	20,619,000	20,619,000	20,619,000	20,619,000	20,619,000	20,619,000	20,619,000	20,619,000	20,619,000	20,619,000
other real estate owned, net of valuation allowance 2,947 in 2015 and 2,971 in 2014																																				2,653,000
other real estate owned, net of valuation allowance of 2,971 in 2014 and 3,340 in 2013																																					2,119,000
other real estate owned																																						2,364,000	2,622,000	3,233,000		4,215,000	5,569,000	5,822,000		6,259,000	4,731,000	6,369,000		5,920,000	3,513,000	3,532,000		3,987,000	3,730,000	3,815,000		4,558,000	4,033,000
other real estate owned, net of valuation allowance of 3,340 in 2013 and 2,367 in 2012																																									3,422,000
preferred stock, 5 par, 2,000,000 shares authorized,
none outstanding
7,862,701 shares outstanding at march 31, 2013 and
7,846,912 shares outstanding at december 31, 2012																																												7,863,000
the accompanying notes are an integral part of the consolidated financial statements.
of 2,367 in 2012 and 1,902 in 2011																																													6,193,000
7,846,912 shares outstanding at december 31, 2012 and
7,806,869 shares outstanding at december 31, 2011																																													7,847,000	7,843,000	7,836,000	7,830,000
7,843,221 shares outstanding at september 30, 2012 and
7,836,056 shares outstanding at june 30, 2012 and
american national bankshares inc. and subsidiaries
consolidated statements of income
interest and dividend income:
interest and fees on loans																																															12,683,000
interest and dividends on securities:
taxable																																															1,056,000
tax-exempt																																															1,077,000
dividends																																															52,000
other interest income																																															18,000
total interest and dividend income																																															14,886,000
interest expense:
interest on deposits																																															1,729,000
interest on short-term borrowings																																															51,000
interest on long-term borrowings																																															84,000
interest on trust preferred capital notes																																															206,000
total interest expense																																															2,070,000
net interest income																																															12,816,000
benefit from loan losses																																															733,000
net interest income after benefit from loan losses																																															12,083,000
noninterest income:
trust fees																																															966,000
service charges on deposit accounts																																															413,000
other fees and commissions																																															445,000
mortgage banking income																																															519,000
securities gains																																															160,000
other																																															297,000
total noninterest income																																															2,800,000
noninterest expense:
salaries																																															3,809,000
employee benefits																																															799,000
occupancy and equipment																																															1,048,000
fdic assessment																																															213,000
bank franchise tax																																															182,000
core deposit intangible amortization																																															546,000
foreclosed real estate																																															171,000
merger related expenses																																															-202,000
total noninterest expense																																															8,833,000
income before income taxes																																															6,050,000
income taxes																																															1,776,000
net income																																															4,274,000
net income per common share:
basic																																															550
diluted																																															540
average common shares outstanding:
7,830,247 shares outstanding at march 31, 2012 and
securities held to maturity (fair value of 0
in 2011 and 3,440 in 2010)
total securities																																																	333,366,000	313,900,000	233,774,000	229,317,000	231,629,000	213,935,000	216,397,000	196,751,000	195,324,000	188,493,000		141,247,000	146,460,000	160,675,000		148,279,000	134,231,000	152,008,000	162,621,000
of 1,902 in 2011 and 1,622 in 2010																																																	5,353,000
7,806,869 shares outstanding at december 31, 2011 and
6,127,735 shares outstanding at december 31, 2010																																																	7,807,000	7,803,000	6,157,000	6,153,000
securities held to maturity (fair value of 2,450 at 9/30/11
and 3,440 at 12/31/10)																																																		2,383,000	2,381,000	3,146,000
1,000,000 shares of series a preferred stock outstanding
at september 30, 2011 and none issued at december 31, 2010																																																		5,000,000
7,802,976 shares outstanding at september 30, 2011 and
securities held to maturity (fair value of 2,458 at 6/30/11
6,156,563 shares outstanding at june 30, 2011 and
securities held to maturity (fair value of 3,236 at 3/31/11
6,153,433 shares outstanding at march 31, 2011 and
securities held to maturity (fair value of 3,440
in 2010 and 6,763 in 2009)																																																					3,334,000
of 1,622 in 2010 and 1,284 in 2009																																																					3,716,000
6,127,735 shares outstanding at december 31, 2010 and
6,110,335 shares outstanding at december 31, 2009																																																					6,128,000	6,126,000	6,125,000	6,123,000
securities held to maturity (fair value of 4,675 at
september 30, 2010 and 6,763 at december 31, 2009)																																																						4,501,000
6,126,374 shares outstanding at september 30, 2010 and
securities held to maturity (fair value of 5,028 at june 30,
2010 and 6,763 at december 31, 2009)																																																							4,823,000
6,124,892 shares outstanding at june 30, 2010 and
securities held to maturity (fair value of 6,014 at 3/31/10
and 6,763 at 12/31/09)																																																								5,802,000
preferred stock, 5 par, 200,000 shares authorized,
6,123,275 shares outstanding at march 31, 2010 and
securities held to maturity (fair value of 6,763
in 2009 and 7,391 in 2008)																																																									6,529,000
of 1,284 in 2009 and 70 in 2008																																																									3,414,000
6,110,335 shares outstanding at december 31, 2009 and
6,085,628 shares outstanding at december 31, 2008																																																									6,110,000	6,107,000
securities held to maturity																																																										6,540,000	6,712,000							13,475,000
loans																																																										539,188,000
6,107,327 shares outstanding at september 30, 2009 and
securities held to maturity (fair value of 7,346
in 2008 and 12,250 in 2007)																																																												7,133,000	9,828,000	11,039,000
6,090,804 shares outstanding at september 30, 2008 and
6,118,717 shares outstanding at december 31, 2007																																																												6,091,000	6,098,000	6,100,000
securities held to maturity (fair value of 10,033
repurchase agreements																																																													57,973,000	58,179,000	47,891,000	48,665,000	43,615,000	44,526,000	33,368,000
fhlb borrowings																																																													37,488,000	16,125,000	16,137,000	8,975,000	10,012,000	15,050,000	15,087,000
6,097,862 shares outstanding at june 30, 2008 and
securities held to maturity (fair value of 11,380
6,100,185 shares outstanding at march 31, 2008 and
securities held to maturity (fair value of 12,250
interest bearing deposits in other banks																																																																24,000	17,053,000	22,817,000
securities held to maturity (fair value of 12,220
in 2007 and 14,131 in 2006)																																																																12,009,000	13,148,000
bank premises and equipment, at cost, less accumulated
depreciation of 15,592 in 2007 and 14,755 in 2006																																																																13,197,000
6,121,325 shares outstanding at september 30, 2007 and
6,161,865 shares outstanding at december 31, 2006																																																																6,121,000	6,146,000	6,157,000
securities held to maturity (fair value of 13,255
depreciation of 15,304 in 2007 and 14,755 in 2006																																																																	12,899,000
6,145,617 shares outstanding at june 30, 2007 and
bank premises and equipment at cost, less accumulated depreciation of
15,022 in 2007 and 14,755 in 2006																																																																		12,759,000
preferred stock, 5 par, 200,000 shares authorized, none outstanding
6,156,823 shares outstanding at march 31, 2007 and
securities held to maturity (fair value of 14,131
in 2006 and 18,701 in 2005)																																																																			13,873,000
depreciation of 14,755 in 2006 and 13,194 in 2005																																																																			12,438,000
6,161,865 shares outstanding at december 31, 2006 and
5,441,758 shares outstanding at december 31, 2005																																																																			6,162,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-03-31

cash flows from operating activities:
net income	4,075,000	5,787,000	7,140,000	9,157,000	8,033,000	9,256,000	8,140,000	8,999,000	11,293,000	10,178,000	10,766,000	11,289,000	8,794,000	7,227,000	5,482,000	8,542,000	7,441,000	8,692,000	-1,230,000	6,003,000	5,002,000	5,785,000	5,980,000	5,812,000	2,120,000	4,787,000	4,279,000	4,063,000	4,122,000	3,963,000	4,088,000	4,128,000	4,607,000	4,037,000	2,880,000	3,515,000	2,890,000	3,168,000	3,233,000	3,450,000	3,143,000	4,151,000	3,918,000	3,639,000	4,274,000	4,175,000	4,652,000	4,129,000	1,012,000	1,778,000	1,851,000	2,228,000	2,014,000	2,185,000	2,169,000	2,167,000	1,706,000	768,000	1,683,000	2,224,000	1,809,000	2,305,000	2,775,000	2,704,000
adjustments to reconcile net income to net cash from operating activities:
benefit from (recovery of) credit losses			268,000	329,000
depreciation	505,000	523,000	532,000	534,000	559,000	567,000	573,000	547,000	549,000	553,000	561,000	580,000	590,000	553,000	524,000	521,000	560,000	546,000	553,000	405,000	409,000	433,000	467,000	466,000	483,000	481,000	469,000	444,000	483,000	460,000	474,000	475,000	476,000	475,000	442,000	440,000	414,000	417,000	423,000	434,000	450,000	424,000	446,000	450,000	443,000	422,000	615,000			304,000	312,000	305,000	313,000	323,000	324,000			338,000	344,000			353,000		282,000
net accretion of acquisition accounting adjustments	-315,000	-410,000	-487,000	-685,000	-252,000	-453,000	-336,000	-556,000	-2,088,000	-1,325,000	-875,000	-948,000	-1,192,000	-861,000	-802,000	-957,000	-1,066,000	-948,000	-1,118,000	-255,000	-286,000	-198,000	-377,000	-427,000	-528,000	-557,000	-595,000	-434,000	-609,000	-356,000	-352,000	-1,001,000						-564,000
core deposit intangible amortization	252,000	262,000	272,000	283,000	300,000	310,000	320,000	330,000	351,000	361,000	371,000	381,000	391,000	402,000	417,000	427,000	437,000	448,000	458,000	55,000	55,000	56,000	77,000	77,000	80,000	80,000	203,000	165,000	175,000	213,000	288,000	288,000	300,000	300,000	300,000	301,000	226,000	227,000	330,000	331,000	330,000	420,000	421,000	421,000	546,000	547,000	548,000			94,000	95,000	94,000	95,000	94,000	94,000			94,000	94,000			94,000		94,000
net amortization of securities	242,000	253,000	345,000	198,000	342,000	370,000	434,000	500,000	571,000	457,000	412,000	406,000	344,000	322,000	318,000	202,000	255,000	232,000	301,000	312,000	355,000	403,000	429,000	430,000	414,000	421,000	454,000	542,000	644,000	678,000	670,000	686,000																		267,000
net gain on sale or call of securities available for sale													0	0	0	-814,000	-32,000	-102,000	-136,000	-4,000	0
gain on sale of loans held for sale	-190,000	-293,000	-197,000	-144,000	-176,000	-388,000	-429,000	-673,000	-746,000	-989,000	-1,142,000	-1,318,000			-893,000	-549,000	-737,000	-710,000	-586,000	-406,000	-370,000	-551,000	-491,000	-450,000	-491,000	-500,000	-354,000	-420,000	-422,000	-392,000	-281,000	-233,000				-166,000	-197,000	-260,000	-211,000	-215,000	-239,000	-650,000				-473,000				-123,000
proceeds from sales of loans held for sale	18,658,000	29,381,000	20,397,000	14,099,000	7,149,000	17,353,000	19,143,000	26,414,000	30,848,000	38,741,000	44,286,000	40,166,000			41,874,000	25,655,000	31,308,000	30,490,000	26,596,000	15,366,000	18,828,000	22,627,000	21,198,000	17,947,000	25,222,000	24,090,000	20,753,000	22,668,000	23,662,000	22,801,000	16,334,000	14,131,000	14,730,000	17,090,000	16,272,000	9,329,000	11,779,000	6,469,000	20,599,000	13,745,000	13,253,000	33,782,000	24,478,000	29,047,000	18,498,000	22,532,000	20,268,000			8,678,000	21,740,000	15,284,000	11,018,000	9,893,000	16,238,000			12,554,000	340,000			8,279,000		6,384,000
originations of loans held for sale	-17,766,000	-27,021,000	-23,598,000	-13,544,000	-5,182,000	-14,590,000	-21,417,000	-19,784,000	-29,065,000	-33,463,000	-39,022,000	-41,186,000			-41,160,000	-25,745,000	-26,952,000	-32,261,000	-27,923,000	-15,572,000	-17,164,000	-21,714,000	-21,211,000	-17,650,000	-22,984,000	-24,597,000	-20,906,000	-18,124,000	-24,460,000	-22,493,000	-19,960,000	-11,417,000	-14,728,000	-17,078,000	-16,741,000	-10,483,000	-11,387,000	-6,902,000	-19,117,000	-12,159,000	-11,855,000	-23,675,000	-29,723,000	-27,407,000	-23,486,000	-19,503,000	-22,233,000			-6,729,000	-20,439,000	-15,978,000	-11,388,000	-9,389,000	-14,536,000			-13,323,000	299,000			-8,426,000
net (gain) loss on other real estate owned																	4,000					30,000	-19,000	-6,000
net income on sale, write-down or disposal of premises and equipment
net income on sale of assets held-for-sale
equity based compensation expense	449,000	447,000	541,000	437,000	378,000	361,000	371,000	382,000	367,000	338,000	364,000	363,000	349,000	281,000	417,000	404,000	337,000	301,000	590,000	313,000	337,000	267,000	314,000	278,000	241,000	216,000	250,000	309,000		176,000	203,000	244,000		137,000	247,000	155,000		154,000	177,000	166,000		146,000				200,000				110,000
earnings on bank owned life insurance									-157,000	-159,000	-156,000	-153,000	-204,000	-156,000	-152,000	-153,000		-161,000	-158,000	-106,000		-111,000	-108,000	-106,000		-110,000	-111,000	-107,000
deferred income tax expense						-138,000	217,000	641,000			200,000	106,000	-476,000	-406,000	-558,000	800,000	863,000	-17,000	0	222,000	353,000				2,679,000	-346,000	700,000	438,000					259,000	1,399,000	226,000	-143,000	-347,000	184,000	118,000	94,000	3,412,000		2,900,000	419,000	2,475,000	-237,000				41,000								-423,000				13,000
net change in other assets	-8,729,000	-666,000	-4,346,000	2,544,000	2,567,000	1,296,000	-6,461,000	114,000	1,081,000	-1,286,000	61,000	389,000	2,835,000	2,624,000	-5,078,000	-352,000	5,462,000	-4,185,000	9,482,000	-602,000	560,000	215,000	-231,000	-644,000	370,000	483,000	-882,000	-350,000	-1,179,000	-362,000	-732,000	883,000	1,649,000	457,000	-294,000	-56,000	-2,507,000	1,520,000	-505,000	-565,000	-3,884,000	-1,504,000	1,941,000	4,363,000	-4,892,000	296,000	-2,171,000			226,000	-96,000	314,000	75,000	235,000	-3,389,000			325,000	-2,886,000			-292,000
net change in other liabilities	-994,000	2,409,000	-347,000	-2,285,000	2,346,000	1,955,000	-1,590,000	-34,000	-647,000	1,527,000	-4,154,000	3,420,000	-784,000	-95,000	-27,000	-1,481,000	2,072,000	-641,000	-1,338,000	-873,000	587,000	170,000	-93,000	59,000	985,000	503,000	-1,454,000	250,000	711,000	-469,000	-339,000	964,000	488,000	555,000	-1,730,000	569,000	371,000	620,000	-1,610,000	1,143,000	-390,000	1,813,000	-2,635,000	1,615,000	-948,000	351,000	-1,297,000			342,000	-272,000	958,000	-1,782,000	1,256,000	-472,000			332,000	116,000			868,000
net cash from operating activities	-1,135,000	9,826,000	332,000	9,943,000	16,050,000	16,353,000	-528,000	16,066,000	11,535,000	15,153,000	10,752,000	13,655,000	2,451,000	8,596,000	4,868,000	7,761,000	19,929,000	2,395,000	5,676,000	4,680,000	8,602,000	7,735,000	5,239,000	5,926,000	7,976,000	5,138,000	2,571,000	10,066,000	4,993,000	4,758,000	-153,000	6,519,000	7,970,000	6,808,000	1,071,000	3,413,000	2,403,000	4,290,000	3,234,000	6,433,000	4,090,000	13,973,000	532,000	12,166,000	-4,622,000	6,530,000	4,359,000			5,633,000	3,642,000	3,080,000	807,000	4,296,000	1,798,000			1,922,000	1,292,000			3,241,000		2,748,000
capital expenditures	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0			-103,000	0	-789,000	-826,000	-273,000	0			-1,189,000	0			-397,000		0
free cash flows	-1,135,000	9,826,000	332,000	9,943,000	16,050,000	16,353,000	-528,000	16,066,000	11,535,000	15,153,000	10,752,000	13,655,000	2,451,000	8,596,000	4,868,000	7,761,000	19,929,000	2,395,000	5,676,000	4,680,000	8,602,000	7,735,000	5,239,000	5,926,000	7,976,000	5,138,000	2,571,000	10,066,000	4,993,000	4,758,000	-153,000	6,519,000	7,970,000	6,808,000	1,071,000	3,413,000	2,403,000	4,290,000	3,234,000	6,433,000	4,090,000	13,973,000	532,000	12,166,000	-4,622,000	6,530,000	4,359,000			5,530,000	3,642,000	2,291,000	-19,000	4,023,000	1,798,000			733,000	1,292,000			2,844,000		2,748,000
cash flows from investing activities:
proceeds from sales of securities available for sale	0	0	0	13,180,000									0	0	0	5,811,000	0	0			0	35,541,000	0	22,066,000	500,000	0	13,884,000	41,519,000	3,702,000	0	-3,550,000	12,867,000	7,996,000	0	3,609,000	3,820,000	0	7,190,000	4,416,000	2,061,000	-4,000	2,627,000	-1,000	0			0				2,143,000								0					215,000
proceeds from maturities, calls and paydowns of securities available for sale	20,537,000	11,150,000	18,141,000	16,794,000	37,037,000	17,145,000	23,276,000	42,594,000	55,161,000	34,920,000	46,766,000	55,825,000	30,960,000	33,879,000	48,859,000	94,731,000	47,753,000	37,345,000	20,231,000	18,586,000	7,046,000	7,561,000	6,176,000	9,824,000	12,956,000	13,366,000	13,190,000	12,885,000	24,229,000	53,071,000	37,056,000	26,127,000	52,225,000	12,913,000	32,867,000	24,979,000	25,449,000	17,106,000	13,255,000	22,540,000	11,831,000	9,329,000
purchases of securities available for sale					-1,053,000	-15,867,000	-21,586,000	-67,664,000	-110,388,000	-126,073,000	-119,064,000	-78,165,000	-139,292,000	-70,416,000	-27,272,000	-58,129,000	-119,229,000	-10,205,000	-19,747,000	-6,565,000	-40,354,000	0	-38,949,000	-27,272,000	-65,153,000	-5,193,000			-30,755,000	-43,813,000	-39,394,000	-54,107,000	-44,971,000	-14,952,000	-43,181,000	-16,936,000	-42,145,000	-4,067,000	-16,480,000	-26,459,000	-12,452,000	-19,555,000	-22,894,000	-10,642,000	-18,046,000	-21,953,000	-29,742,000			-26,608,000	-38,373,000	-30,971,000	-39,503,000	-36,232,000	-47,042,000			-42,699,000	-2,369,000			-18,377,000
net change in restricted stock	2,322,000	-3,604,000	-13,000	3,332,000	-4,268,000	112,000	-11,000	-428,000	-10,000	-11,000	-11,000	691,000	-8,000	-13,000	-12,000	-52,000	-9,000	-825,000	91,000	-52,000	-8,000	224,000	-242,000	889,000	-601,000	-8,000	-9,000	732,000	-218,000	-644,000	-7,000	-43,000	-4,000	-130,000	-199,000	-25,000	-5,000	535,000	-535,000	360,000	-4,000	411,000	-3,000	984,000
net increase in loans	-14,863,000	-28,248,000	-44,331,000	-12,430,000		-88,060,000	-42,527,000	-40,794,000					71,954,000	11,030,000	-246,324,000	-23,295,000	-25,452,000	32,566,000	-31,050,000	-2,321,000	-26,856,000	8,552,000			-40,595,000	-6,807,000	-68,046,000	-55,067,000	-81,183,000	-24,872,000	-23,063,000	-28,080,000	-24,532,000	2,679,000	-16,600,000	-9,865,000	-24,144,000	-3,079,000			5,575,000	-2,112,000
net change in collateral with other financial institutions					0	0
proceeds from sale of other investments
proceeds from swap terminations
proceeds from sale of premises and equipment					0	0	0	4,000	715,000	1,307,000	5,000	4,000	0								1,000	209,000	0	24,000	6,000				0	0	0	1,000	2,000	0	0	42,000							0	9,000	0	563,000	303,000
purchases of premises and equipment	-233,000	-247,000	-984,000	-74,000	-302,000	-375,000	-153,000	-366,000	-167,000	-133,000	-454,000	-246,000	-347,000	-977,000	-463,000	-907,000	-1,485,000	-771,000	-906,000	-393,000	-1,401,000	-390,000	-587,000	-345,000	-460,000	-449,000	-1,076,000	-663,000	-3,077,000	-267,000	-120,000	-149,000	-271,000	-602,000	-253,000	-348,000	-364,000	-419,000	-147,000	-119,000	-142,000	-178,000	-105,000	-21,000	76,000	-649,000	-1,185,000
proceeds from sales of other real estate owned									70,000	0	230,000	404,000	33,000	18,000	0	144,000	41,000	111,000	912,000	225,000	103,000	172,000	589,000	47,000	784,000	309,000	41,000	37,000	15,000	56,000	167,000	685,000	142,000	946,000	731,000	316,000
proceeds from the sale of assets held-for-sale
net cash from used in investing activities
cash flows from financing activities:
net change in noninterest-bearing deposits	-42,433,000	-37,220,000	-77,010,000	-48,355,000	-34,201,000	-3,128,000	23,153,000	15,697,000	28,096,000	21,411,000	51,853,000	77,627,000	9,710,000
net change in interest-bearing deposits	77,709,000	-43,444,000	116,723,000	64,246,000	-60,331,000	-136,337,000	-118,909,000	20,081,000	193,000	70,939,000	85,383,000	-56,401,000	130,948,000
net change in customer repurchase agreements	-687,000	-2,851,000	-334,000	62,850,000	-255,000	-31,413,000	-6,489,000	-2,601,000	14,533,000	-8,845,000	-3,765,000	-3,346,000	645,000	-4,390,000	4,182,000	1,639,000	1,551,000	1,702,000	1,277,000	702,000	6,139,000	22,328,000	-3,690,000	-260,000	-32,514,000	-5,042,000	506,000	8,610,000	-4,924,000	-9,279,000	11,185,000	1,573,000	-2,968,000	-6,544,000	-3,541,000	184,000	1,535,000	13,525,000	4,267,000	-5,325,000	-4,548,000	-3,276,000	4,181,000	-352,000	-2,538,000	3,076,000									-5,410,000
net change in short-term borrowings																																																		-6,110,000								4,590,000
net change in junior subordinated debt
common stock dividends paid	-3,190,000	-3,188,000	-3,186,000	-3,191,000	-3,183,000	-2,966,000	-2,989,000	-3,006,000	-3,020,000	-2,914,000	-2,938,000	-2,955,000	-2,968,000	-2,958,000	-2,960,000	-2,956,000	-2,993,000	-3,001,000	-2,782,000	-2,189,000	-2,180,000	-2,178,000	-2,171,000	-2,173,000	-2,162,000	-2,075,000	-2,074,000	-2,073,000	-2,065,000	-2,068,000	-2,068,000	-2,065,000	-2,072,000	-1,991,000	-1,998,000	-2,007,000	-1,811,000	-1,805,000	-1,802,000	-1,819,000	-1,815,000	-1,809,000	-1,805,000	-1,803,000	-1,803,000	-1,801,000	-1,795,000
repurchase of common stock	0	0	-370,000	-674,000	-119,000	-2,059,000	-1,932,000	-3,395,000	-667,000	-3,312,000	-3,237,000	-1,594,000	0	0	0	-4,981,000	-2,008,000												0	-89,000	-239,000	-964,000
proceeds from exercise of stock options	0	0			0	0	0	12,000	3,000	0			13,000	0	1,000	29,000	79,000	31,000	288,000	290,000	0	86,000	690,000	85,000	-1,000	41,000	0	73,000	41,000	0	42,000	59,000	390,000	134,000	103,000	162,000					0		0	73,000	0	45,000	0			172,000	1,000	1,000	1,000	45,000	50,000			16,000	25,000			181,000		99,000
net cash from financing activities	-18,601,000	-26,703,000	35,892,000	-655,000	2,442,000	-175,903,000	-107,166,000	26,788,000	39,138,000	77,279,000	119,882,000	13,331,000	138,348,000	31,609,000	362,379,000	3,924,000	15,417,000	26,959,000	-47,525,000	-7,634,000	47,079,000	-22,903,000	1,824,000	-1,823,000	33,844,000	10,288,000	45,169,000	32,074,000	62,684,000	11,187,000	14,874,000	28,374,000	30,863,000	-17,459,000	-15,196,000	27,928,000	24,943,000	14,972,000	-2,484,000	-13,608,000	-19,808,000	5,063,000	-22,306,000	7,961,000	-36,488,000	14,396,000	-5,863,000			8,782,000	11,931,000	-13,347,000	20,378,000	-1,610,000	-2,825,000			38,826,000	-12,729,000			8,774,000		7,102,000
net increase in cash and cash equivalents	-8,549,000	-37,786,000	9,624,000	30,090,000	-17,588,000	-246,595,000	-145,495,000	-23,800,000	-7,533,000	-22,136,000	123,287,000	42,880,000	104,099,000	18,666,000	142,035,000	29,988,000	-63,035,000			6,606,000	-5,788,000	36,701,000	-43,311,000	24,176,000	-50,743,000	17,291,000	-8,861,000	41,583,000			-14,190,000	-7,806,000	29,420,000	-9,797,000	-37,151,000	45,562,000	-13,674,000	36,734,000	-27,103,000	3,665,000	-10,588,000	10,203,000	-20,198,000	38,731,000	-25,937,000	25,953,000	-24,643,000	14,353,000	-462,000	21,131,000	-8,684,000	-6,905,000	-2,487,000	12,647,000	-2,400,000	-14,441,000	8,964,000	7,722,000	-9,088,000	4,839,000	3,819,000	6,224,000		19,537,000
cash and cash equivalents at beginning of period	0	0	0	73,340,000	-4,050,000	0	0	510,868,000	0	0	0	374,370,000	0	0	0	79,582,000	0	0	0	64,255,000	0	0	0	52,477,000	0	0	0	53,207,000	0	0	0	95,337,000	0	0	0	67,303,000	0	0	0	67,681,000	0	47,442,000	0	0	0	28,893,000	0	0	0	18,514,000	0	0	0	23,943,000	0	0	0	24,098,000	0	0	0	18,304,000	0	26,124,000
cash and cash equivalents at end of period	-8,549,000	-37,786,000	9,624,000	103,430,000	-21,638,000	-246,595,000	-145,495,000	487,068,000	-7,533,000	-22,136,000	123,287,000	417,250,000	104,099,000	18,666,000	142,035,000	109,570,000	-63,035,000	87,703,000	-15,947,000	70,861,000	-5,788,000	36,701,000	-43,311,000	76,653,000	-50,743,000	17,291,000	-8,861,000	94,790,000	-19,610,000	-524,000	-14,190,000	87,531,000	29,420,000	-9,797,000	-37,151,000	112,865,000	-13,674,000	36,734,000	-27,103,000	71,346,000	-10,588,000	57,645,000	-20,198,000	38,731,000	-25,937,000	54,846,000	-24,643,000	14,353,000	-462,000	39,645,000	-8,684,000	-6,905,000	-2,487,000	36,590,000	-2,400,000	-14,441,000	8,964,000	31,820,000	-9,088,000	4,839,000	3,819,000	24,528,000	-1,736,000	45,661,000
benefit from credit losses
net income on sale or call of securities available for sale		0	0	68,000
net gain on other real estate owned										0	0	111,000		15,000	0	-27,000			-126,000	-8,000									0	8,000	14,000	50,000	14,000	-189,000	17,000	-27,000
losses on sale or disposal of premises and equipment
net change in bank owned life insurance		-175,000	-169,000	-161,000		-162,000	-159,000	-52,000																					-165,000	-113,000	-112,000	-115,000	-167,000	-115,000	-115,000	-113,000
deferred income tax (benefit) expense		-120,000	-27,000	-992,000																			-25,000	-2,000						167,000																									859,000
proceeds from sale of assets held-for-sale		0
proceeds from sale of other real estate owned
net cash from investing activities		-20,909,000	-26,600,000	20,802,000	-36,080,000	-87,045,000	-37,801,000	-66,654,000	-58,206,000	-114,568,000	-7,347,000	15,894,000	-36,700,000	-21,539,000	-225,212,000	18,303,000	-98,381,000	58,349,000	25,902,000	9,560,000	-61,469,000	51,869,000	-50,374,000	20,073,000	-92,563,000	1,865,000	-56,601,000	-557,000	-87,287,000	-16,469,000	-28,911,000	-42,699,000	-9,413,000	854,000	-23,026,000	14,221,000	-41,020,000	17,472,000	-27,853,000	10,840,000	5,130,000		1,576,000	18,604,000	15,173,000	5,027,000	-23,139,000			6,716,000	-24,257,000	3,362,000	-23,672,000	9,961,000				-33,026,000	2,349,000			-5,791,000		9,687,000
repayment of other short-term borrowings		60,000,000	0	-75,531,000
net income on sale or disposal of premises and equipment						1,000				107,000	432,000	49,000		15,000	0	82,000
net gain on sale or disposal of premises and equipment				105,000				-4,000
benefit from (recovery of) loan losses					1,159,000				-1,955,000	482,000			585,000						-10,000	16,000	-6,000
proceeds from sales of purchased credit impaired loans													0
net decrease (increase) in loans									-4,148,000	-24,578,000	65,181,000	37,381,000												14,840,000																12,225,000
net change in long-term borrowings																	0	0																			0	0	0	-38,000	-37,000	-37,000	-37,000	-36,000	-39,000	-37,000	-32,000			-4,038,000	-37,000	-38,000	-37,000	-38,000	-37,000			-37,000	-38,000
net income on other real estate owned																											0	3,000
recovery of benefit from loan losses
(recovery of) benefit from loan losses								-758,000
net change in fair value of equity securities																	0	-3,000	-11,000	-319,000
valuation allowance on other real estate owned																	0	12,000	50,000	6,000	2,000	6,000			57,000	12,000	48,000	26,000	0	80,000	23,000	53,000	0	23,000	41,000	22,000
proceeds from sales of equity securities																	0	128,000	237,000	80,000	0	0
cash paid in bank acquisition																	0	0															0	0	0	-5,935,000											0
cash acquired in bank acquisition																	0	0															0	0	0	18,173,000											0
net change in other short-term borrowings																	0	-13,528,000			0	-5,500,000	5,500,000	-24,000,000	24,000,000	0	0	-20,000,000	5,000,000														0	0	0	-3,000,000
deferred income tax benefit																																-1,716,000										-43,000										-201,000	190,000	-300,000
net change in subordinated debt										0
benefit from loan losses															4,759,000	953,000							-30,000	-44,000	-74,000	440,000	350,000	300,000	50,000	100,000	50,000	50,000	250,000	0	100,000	600,000	250,000	0			0	294,000	334,000	333,000	733,000	733,000	1,972,000			337,000	485,000	435,000	285,000	285,000	328,000			350,000	600,000			140,000		303,000
net (gain) loss on sale or disposal of premises and equipment
net change in loans held for sale
net change in demand, money market, and savings deposits															376,719,000	28,084,000	33,584,000	44,623,000	-15,307,000	-20,932,000	54,523,000	-38,906,000	10,994,000	26,591,000	62,912,000	14,496,000	28,788,000	53,087,000	80,068,000	16,670,000	3,649,000	26,048,000	39,152,000	-8,257,000	2,106,000	37,878,000	20,151,000	19,952,000	-1,324,000	5,164,000	-722,000	4,199,000	7,450,000	15,346,000	-25,280,000	-4,317,000	-5,578,000			17,047,000	8,557,000	-29,434,000	-5,562,000	7,917,000				995,000				4,696,000
net change in time deposits															-15,563,000	-17,891,000	-14,796,000	-1,730,000	-28,868,000	14,495,000	-11,403,000	1,267,000	-9,499,000	-2,066,000	-8,391,000	2,868,000	17,949,000	-7,623,000	-15,436,000	-9,047,000	2,305,000	3,723,000	-2,941,000	832,000	-10,691,000	-8,289,000	4,626,000	-4,692,000	-14,125,000	-11,590,000	-12,686,000	5,986,000	-32,095,000	-5,267,000	-6,828,000	20,430,000	-145,000			6,338,000	5,911,000	24,913,000	26,092,000	-2,569,000	2,747,000			25,755,000	-2,563,000			-4,378,000
net change in interest receivable																173,000	-15,000	766,000	153,000	76,000	-217,000	61,000	-348,000	286,000	-447,000	36,000	-338,000	601,000	-509,000	400,000	-266,000	-592,000	253,000	100,000	172,000	219,000	1,123,000	-1,084,000	-176,000	344,000	-137,000	175,000	181,000	214,000	-221,000	209,000	-759,000			348,000	3,000	-138,000	-138,000	-175,000	349,000			12,000	328,000			223,000
net change in interest payable																80,000	-603,000	-64,000	42,000	51,000	28,000	95,000	-26,000	24,000	12,000	52,000	36,000	-49,000	-14,000	-31,000	5,000	8,000	13,000	43,000	-39,000	-1,000	6,000	-9,000	23,000	-43,000	-45,000	-23,000	0	-6,000	-33,000	-38,000	128,000			-77,000	28,000	-9,000	-5,000	-31,000	-38,000			17,000	-1,000			-63,000
net (gain) loss on sale of premises and equipment
recovery of loan losses
net gain on sale of premises and equipment																		2,000			6,000	-63,000	0	-3,000							9,000	-1,000			0	-5,000							1,000	-9,000	0	-495,000
net decrease in cash and cash equivalents
net unrealized holding gain on equity securities
net unrealized holding gains on equity securities
net gains on sale or call of securities																							0	-8,000		0	-331,000	-259,000		-73,000	-222,000	-366,000		-6,000
unrealized holding gains on equity securities																							-289,000	-113,000
net gain on sale or call of securities																																					-1,000	-315,000	-150,000	-39,000		-198,000								-1,000	-84,000	-67,000	-4,000	-2,000					0			-30,000
net income on sale of premises and equipment																													0				6,000
equity-based compensation expense
net accretion of purchase accounting adjustments																																		-833,000	-844,000	-1,113,000				-896,000	-1,581,000	-1,983,000
net amortization (accretion) of securities																																		693,000	689,000	680,000			635,000	668,000	728,000	788,000	781,000	813,000	875,000	792,000
net gain on sale of loans held for sale																																		-290,000
repurchase of stock																																		-1,633,000				-8,000																	0			-121,000	-117,000			-599,000
gains on sales of securities																																				-310,000
proceeds from sales of foreclosed real estate																																					189,000	206,000	1,060,000	232,000	326,000	645,000	1,331,000	1,231,000	2,383,000	1,106,000	1,069,000			340,000		34,000	0	122,000				169,000				75,000
capital improvements in other real estate owned
net gain on foreclosed real estate																																						52,000	-103,000	-49,000		-14,000										-5,000
valuation allowance on foreclosed real estate																																						0	22,000	24,000	743,000	70,000	223,000	60,000	214,000	5,000
net (gain) loss on sale or call of securities																																											2,000	0
net (gain) loss on foreclosed real estate																																													-133,000	-248,000
proceeds from maturities, calls and paydowns of securities held to maturity
preferred stock dividends paid																																															-52,000
repurchase of preferred stock
adjustments to reconcile net income to net
cash from operating activities:
stock-based compensation expense																																														16,000	15,000			16,000	229,000	15,000	16,000	16,000	15,000			15,000
net cash provided byinvesting activities																																										-8,833,000
the accompanying notes are an integral part of the consolidated financial statements.
accreton of purchase accounting adjustments
impairment of securities																																																			0	0	0	31,000
proceeds from sales of securities held to maturity																																																			428,000
net decrease in loans																																											9,765,000	8,289,000	9,701,000	9,485,000						-319,000
net accretion of fair value adjustments																																												-1,608,000	-2,552,000	-2,754,000
gain on loans held for sale																																												-543,000								-379,000	-301,000	-222,000				-249,000				-166,000
equity based compensation																																												154,000								54,000	53,000	53,000
proceeds from maturities and calls of securities available for sale																																												18,754,000	17,099,000	16,475,000	12,606,000			29,423,000	12,014,000	34,254,000	20,747,000	33,857,000	34,089,000			8,995,000				15,342,000		13,522,000
proceeds from maturities and calls of securities held to maturity																																															315,000			190,000	760,000	154,000	418,000	727,000	13,000			311,000				952,000		398,000
purchases of foreclosed real estate
cash acquired in bank acquisiton
net change in trust preferred capital notes																																															22,000
increase in other real estate owned
net change in valuation allowance on foreclosed real estate																																																		10,000	173,000	0
net change in loans																																																		3,474,000				11,760,000				1,387,000				-3,386,000
net change in repurchase agreements																																																		-3,213,000		-7,380,000	1,293,000	-5,557,000				9,027,000				10,288,000
net income on sale of foreclosed real estate																																																		12,000
purchases of bank property and equipment																																																		-103,000		-789,000	-826,000	-273,000				-1,189,000				-397,000
cash dividends paid																																																		-1,414,000	-1,410,000	-1,409,000	-1,409,000	-1,408,000	-1,406,000			-1,399,000	-1,400,000			-1,402,000
net amortization (accretion) of bond premiums and discounts																																																			213,000	170,000	85,000	41,000	-13,000			-67,000
net gain on sale of foreclosed real estate
net income on foreclosed real estate																																																						3,000				1,179,000				7,000
net change in demand, money market,
and savings deposits																																																																18,137,000
change in valuation allowance for foreclosed real estate
increase in foreclosed real estate
net cash (used in) investing activities
cash paid in acquisition
cash acquired in acquisition
gain on sale of premises and equipment
proceeds from sale of bank property and equipment
net (accretion) of bond premiums and discounts																																																														-64,000
net change in fhlb borrowings																																																														-12,000
accretion of purchase accounting adjustments
change in interest receivable
change in other assets
change in interest payable
change in other liabilities
net cash paid in merger acquisition
net change in borrowings
supplemental schedule of cash and cash equivalents:
cash and due from banks																																																																22,844,000
interest bearing deposits in other banks
supplemental disclosure of cash flow information:
interest paid																																																																4,811,000
income taxes paid
transfer of loans to other real estate owned
unrealized gain on securities available for sale																																																																722,000
merger acquisition
fair value of assets acquired
fair value of common stock issued
cash paid
liabilities assumed
increase in interest receivable
decrease in other assets																																																																802,000
increase in interest payable
decrease in other liabilities
net increase in demand, money market,
net decrease in time deposits
net increase in repurchase agreements																																																																11,158,000
net decrease in fhlb borrowings
cash:
interest-bearing deposits in other banks																																																																22,817,000
increase in other assets
increase in other liabilities
purchases of securities held to maturity
net decrease in repurchase agreements
net increase in fhlb borrowings
net increase in other borrowings
transactions related to the merger acquisition:
increase in assets and liabilities
securities
loans
bank premises and equipment
goodwill and core deposit intangibles
accrued interest receivable and other assets
demand deposits - noninterest bearing
demand deposits - interest bearing
borrowings
accrued interest payable and other liabilities
issuance of common stock

American National Bankshares Inc(NASDAQ:AMNB)

American National Bankshares Inc
(NASDAQ:AMNB)