Statement of Condition

INDEBANCORP AND SUBSIDIARY

Indebancorp Consolidated Balance Sheets
December 31, 2010 and 2009

ASSETS 2010 2009
Cash and due from banks $ 7,218,399 $ 3,565,957
Interest-bearing demand deposits 126,526 120,675
Federal funds sold 389,000 136,000
Cash and cash equivalents 7,733,925 3,822,632
Investment securities, available for sale 39,535,857 41,472,431
Loans held for sale 208,100 738,000
Loans, net of allowance for loan losses of $1,502,779 and $1,363,703 140,125,780 127,342,243
Premises and equipment 2,906,051 2,965,658
Federal Reserve and Federal Home Loan Bank stock 952,300 952,300
Interest receivable 721,385 736,778
Insurance contracts 5,107,869 4,934,742
Foreclosed assets held for sale, net 519,477 466,103
Other assets 1,805,431 1,640,810
Total Assets $199,616,175 $185,071,697
LIABILITIES AND STOCKHOLDER'S EQUITY
Deposits
Noninterest bearing $ 29,892,008 $ 24,310,046
Interest bearing 137,968,867 125,181,205
Total deposits 167,860,875 149,491,251
Short-term borrowings ---- ----
Long-term borrowings 11,000,000 16,000,000
Interest payable 251,189 262,146
Other Liabilities 2,164,543 1,801,766
Total Liabilities $181,276,607 $167,555,163
STOCKHOLDERS' EQUITY
Common stock, without par value
Authorized, 750,000 shares
Issued and outstanding, 498,932 and 507,372 shares 1,232,456 1,232,456
Surplus -------------- --------------
Retained earnings 17,092,023 16,048,718
Accumulated other comprehensive income 15,089 235,360
Total Stockholders' Equity $ 18,339,568 $ 17,516,534
Total Liabilities and Stockholder's Equity $199,616,175 $185,071,697