Item 8.01 Other Events.

On December 11, 2012, the United States Department of the Treasury ("Treasury") sold all 15,600 of its shares (the "Shares") of the Company's Fixed Rate Cumulative Perpetual Preferred Stock, Series A, no par value, having a liquidation preference of $1,000 per share. The Treasury had acquired the Shares on December 19, 2008 as part of the Treasury's Troubled Asset Relief Program - Capital Purchase Program ("TARP"). The Treasury continues to hold a warrant to purchase up to 521,158 shares of the Company's common stock, no par value, at an exercise price of $4.49 per share.

The Treasury sold the Shares in a non-public offering as part of a modified "Dutch auction" process. The Company did not bid on any of the Shares, which were all sold to third party purchasers unaffiliated with the Company. The Company did not receive any proceeds from this auction. As a result of the Treasury's sale of the Shares, the Company's operations will no longer be limited by the TARP restrictions or regulations regarding executive compensation.

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