This excerpt taken from the NBTF 10-Q filed Nov 13, 2006.
Note 10: Subsequent Event
On October 13, 2006, the Company completed the sale of the Banks office located in Ada, as well as the Banks former branch office building located in Waynesfield, Ohio. The sale included approximately $19.4 million in deposits and $4.5 million in loans. The Company will recognize a gain of approximately $1.1 million from this sale during the fourth quarter of 2006. Because this branch is considered only a portion of the Companys overall retail branch network, the sale is not deemed a discontinuation of operations.
This excerpt taken from the NBTF 10-K filed Mar 16, 2006.
Note 22: Subsequent Event
The Company paid off $47 million in Federal Home Loan Bank advances with a weighted average rate of 5.65% during February 2006. The prepayment of these advances included a penalty of $1.4 million. In addition, investments of approximately $18 million were sold at a loss of $156,000 to help fund repayment of these advances. Of the securities sold, one mortgage-backed security with a par value of approximately $14 million realized a loss of approximately $160,000. This security was projected to mature over the next ten months. The Company had the ability to hold the security until maturity, but sold it to accelerate cash flow to fund repayment of the fixed rate advances. This balance sheet restructuring was completed to improve the Banks interest rate risk profile based on the current interest rate environment in 2006. This penalty and loss will be recognized during the first quarter of 2006 and will reduce net income for the first quarter of 2006 approximately $1 million.