LANDMARK BANCORP, INC. AND SUBSIDIARY  Consolidated Statements of Stockholders’ Equity  (1) Dividends per share have been adjusted to give effect to the 5% stock dividends paid during December 2012, 2011 and 2010. See accompanying notes to consolidated financial statements. (Dollars in thousands, except per share amounts) Common  stock Additional  paid-in  capital Retained  earnings Accumulated other  comprehensive  income Total Balance at December 31, 2009 25 $ 24,844 $ 27,523 $ 1,503 $ 53,895 $ Net earnings - - 2,043 - 2,043 Comprehensive income (loss) - - - (581) (581) Dividends paid ($0.66 per share) (1) - - (1,908) - (1,908) Stock-based compensation - 100 - - 100 Exercise of stock options, 21,793 shares, including excess tax benefit of $40 - 268 - - 268 5% stock dividend, 125,319 shares 1 1,890 (1,891) - - Balance at December 31, 2010 26 27,102 25,767 922 53,817 Net earnings - - 4,484 - 4,484 Comprehensive income (loss) - - - 2,657 2,657 Dividends paid ($0.69 per share) (1) - - (2,014) - (2,014) Stock-based compensation - 107 - - 107 Exercise of stock options, 5,228 shares, including excess tax benefit of $12 - 69 - - 69 5% stock dividend, 132,107 shares 2 2,035 (2,037) - - Balance at December 31, 2011 28 29,313 26,200 3,579 59,120 Net earnings - - 6,367 - 6,367 Comprehensive income (loss) - - - (121) (121) Dividends paid ($0.72 per share) (1) - - (2,121) - (2,121) Stock-based compensation - 82 - - 82 Exercise of stock options, 554 shares, including excess tax benefit of $1 - 6 - - 6 5% stock dividend, 138,895 shares 1 2,822 (2,823) - - Balance at December 31, 2012 29 $ 32,223 $ 27,623 $ 3,458 $ 63,333 $ 66 