Thomas Lamson Ludington

Chemical Bank & Trust checking & savings — Interest

Dow Chemical Employees Credit Union — Interest

TD Ameritrade Money Market — Interest

Merrill Lynch Money Market — Interest

Amgen Stock — Int/Div

Covance Stock — Int/Div

Blackroot Global Stock — None

IBM Stock — Int/Div

Quest Diagnostics Stock — Int/Div

Chemical Financial Stock — Int/Div

Petosky MI Condo — None

Am Cent Real Est {Dow Savings Plan)KKL 401K — None — Sold (part)

Fidelity Contrafund{Dow Savings Plan)KKL 401K — None

Fidelity Diversified Intl (Dow Savings Plan) KKL 401K — None

Growth Equity (DowSavings Plan) KKL 401K — None — Sold

Interest Income Fund {Dow Savings Plan) KKL 401K — None

Vanguard Convertible See (Dow Savings Plan) KKL 401K — None

Vanguard Global Equity (Dow Savings Plan) KKL 401K — None

SSga Stable Value-State of Michigan 457 Plan (TLL) — None

PIMCO Total Return-State of Michigan 457 (TLL) — None

Dodge & Cox Stock State of Michigan 457 Plan (TLL) — None

SSga Stable Value State of Michigan 401K Plan (TLL) — None

PIMCO Total Return State of M1 401K plan (TLL) — None

Oakmark Equity & Income Fund-St of MI AIK (TLL) — None

MFS Total Return-St of M1 401K Plan (TLL) — None

T Rowe Price Mid Cap Value-St of M1 AIK (TLL) — None

Dodge & Cox Stock-St of MI 401K (TLL) — None

Ridge Worth Funds-St of M1 401K (TLL) — None

American Funds Europacific Gr-St of MI JK (TLL) — None

NB Genesis-Inst LL — None — Buy

PimCo Real — None — Buy

Schwab Money Market — Interest

Anchor Life Policy — None

Trust Mark Life Policy (TLL) — None

Indianapolis Life Policy — None

Oakmark Equity & Income Fund — None

Apple Inc — Int/Div — Sold (part)

FBR Gas Utilities Index Fund — Int/Div — Sold (part)

FBR Gas Utilities Index Fund — None — Sold (part)

FBR Small Cap Financial Fund — Int/Div — Buy (add'l)

FBR Small Cap Financial Fund — Sold

Fidelity Select Portfolio Fund — Int/Div

First Eagle Overseas A Fund — Int/Div — Buy (add'l)

Canadian Natural Resources — None — Sold (part)

Canadian Natural Resources — None — Sold

Church & Dwight — None — Sold (part)

Citigroup Inc — Int/Div — Sold (part)

Citigroup Inc — Sold

Dollar Tree Stores Inc — None — Sold (part)

S10. — None — Sold (part)

Abbott Labs — None — Buy

Buffalo Wild Wings — None — Buy

Flower Foods — Int/Div — Sold

ING Global Natural Resources — Int/Div — Buy (add'l)

MFS Unlities Fund — Int/Div — Sold (part)

MFS Unlities Fund — None — Sold (part)

Royce Low Priced Stock Fund — Int/Div — Sold (part)

Columbia Seligman — None — Sold (part)

Columbia Seligman — None — Sold (part)

Columbia Seligman — None — Sold (part)

ITT Education Services — None — Sold

Vanguard Energy Fund A — Int/Div — Sold (part)

Vanguard Energy Fund A — None — Buy (add'l)

Janus Overseas Inv Fund — None — Buy (add'l)

MSC Canada Index — Int/Div

Metro Inc Class A — Int/Div

General Mills — None — Buy

Proctor & Gamble — None — Buy

Ross Stores — None — Buy

Pepsico Inc — None — Sold

Yacktman Fund — Int/Div — Buy

SPDR DJ Intl Resources — Int/Div — Buy

MFS Intl New Discovery A Fund — Int/Div — Sold (part)

MFS Intl New Discovery A Fund — None — Buy (add'l)

Morgan Stanley Inst Int] Real Estate — Int/Div — Sold

T Price Media & Tele — Int/Div — Sold (part)

T Price Media & Tele — None — Buy (add'l)

Tim Horton's — Int/Div — Buy

Owens & Minor Inc — Int/Div — Sold

Alexanders — Int/Div

ATCO Lud Class — Interest — Sold (part)

Bank of Nova Scotia — Int/Div

Shoppers Drug Mart — Int/Div — Sold

Harris Cap PFD — Int/Div

Permian Basin Rovalities — Int/Div — Buy (add'l)

Permian Basin Rovalities — None — Sold (part)

Permian Basin Rovalities — None — Buy (add'l)

Permian Basin Rovalities — None — Sold (part)

Sabine Royalty Trust — Int/Div — Sold (part)

Sabine Royalty Trust — None — Sold (part)

Sabine Royalty Trust — None — Sold (part)

Alliance Resource Partners — None — Buy

Magellan Midsteam — Int/Div — Buy (add'l)

Magellan Midsteam — None — Sold (part)

Magellan Midsteam — None — Buy (add'l)

Magellan Midsteam — None — Sold (part)

Nu Star — Int/Div — Sold

National Health Investors — Int/Div

Sunoco Logistics Partners — Int/Div — Sold (part)

Sunoco Logistics Partners — None — Sold (part)

Sunoco Logistics Partners — None — Sold (part)

C&S Realty Fund — Int/Div — Sold (part)

Energy Transfer Partners — Int/Div — Sold

Alerian Infrastructure — Int/Div — Buy (add'l)

Alerian Infrastructure — None — Buy (add'l)

El Paso Pipeline — Int/Div — Buy

Spectra Energy Partners — Int/Div — Buy

Transmontaigne Partners — Int/Div — Buy

Transmontaigne Partners — None — Buy

Transmontaigne Partners — None — Buy

Rayonier Inc — Int/Div — Sold (part)

SL Green Realty — Int/Div — Sold (part)

SL Green Realty — None — Sold (part)

Thomburg Intl Value — Int/Div — Sold (part)

American Gen Finance 12/15/11 — Interest — Matured

Andrews Co, TX 8/15/18 — Int/Div

Berkshire Hathaway 8/15/13 — Interest

Camden NY Bond 1/15/15 — Interest

Capital One Bank CD 12/19/14 — Interest

Caterpillar Finance 5/15/13 — Interest — Buy

Caterpillar Finance 7/15/12 — Interest

Cary, IL Semi 11/01/2013 — Interest

Cook Co, IL 12/01/2013 — None

Research In Motion — None — Buy

Research In Motion — None — Sold

GE Capital Corp 11/14/14 — Interest

John Hancock 02/12/12 — Interest

Lehman Bond 01/18/12 — None

John Hancock 11/15/18 — Interest

Lewis County WA 12/1/14 — Interest

Mishawaka, IN 3/1/15 — None

New York St Bond 3/15/18 — Interest

Palatine. lL Bond 12/1/14 — Interest

Puerto Rico Bond 8/1/11 — Interest — Matured

Household Finance 12/15/11 — Interest — Matured

HSBC Bond 7/18/12 — Interest

HSBC Bond 7/15/12 — Interest

Indiana Bond Bank 7/15/18 — Interest

Davis Co, UT Semi 6/1/12 — Interest — Buy

Capmark Bank CD 7/23/12 — Interest

MetLife Policy — None — Redeemed

Citizens Bank CD 12/28/12 — Interest

Discover Bank CD 9/24/13 — Interest

GE Cap Finance CD 9/18/12 — Interest

GE Money Bank CD 11/20¢12 — Interest

Goldman Sachs CD 11/19/13 — Interest

Goldman Sachs CD 12/17/13 — Interest

Wachovia Bank CD 9/30/13 — Interest

Barclay Bank Bond 9/22/16 — Interest — Buy

Barclay Bank Bond 7/10/14 — None — Buy

GE Cap Finance CD 10/16/12 — Interest

Paragon Com Bank CD 12/15/14 — Interest

Syracuse NY Bond 10/15/14 — Interest

Wyandotte Co KS 8/1/11 — Interest — Matured

Goldman Sachs Semi 10/1/16 — Interest — Buy

Goldman Sachs Semi 10/1/14 — Interest — Buy

John Hancock Semi 9/15/16 — Interest — Buy

T Rowe Price Fmancial — None — Sold (part)

T Rowe Price Fimancial — None — Sold

Avalon BayCommunities — Int/Div — Sold (part)

Archer Dan Midland 4/15/11 — Int/Div — Matured

Bankers Trust Bond 10/15/11 — Interest — Matured

Oregon State Bond 6/1/12 — None

Pepsico Bond Maty 4/1/12 — None

Wachovia CorpBond 10/15/11 — Interest — Matured

John Hancock 9/15/16 — None — Buy

JP Morgan Chase 7/5/16 — None — Buy

JP Morgan Chase 3/1/16 — None — Buy

Metlife Inc Semi 6/1/16 — None — Buy

Michigan Fimancial Authority 11/1/16 — Interest — Buy

Phoenix, AZ 7/1/16 — None — Buy

Westpac Banking Co 12/9/15 — Interest — Buy

Memill Lynch monthly 3/15/11 — Interest — Matured

Chemcial Bank Savings (FBO#1) — Interest

Federated Balance (CFC) (FBO) — Int/Div

MI Ed Saves Plan Moderate Age-Based Opt Agel 5-17TFBO# I No cont — None — Distnbuted

MI Ed Savings Plan Moderate Age-Based Opt 18(FBO# I No control — None

MI Ed Savings Plan 100% Equity Opt (FBO# 1 No Control — None

Firstbank PR Monthly (FBO#1) — Interest

Schwab Money Market (FBO#1) — Interest

Columbia Seligman Comm & Info (FBO#1) — Int/Div

ING Global Nat Res Fund (FBO#1) — None — Buy

MFS Utlines Fund (FBO#1) — Int/Div

Rovece Low-Priced Stock (FBO#1) — Int/Div

Vanguard Energy Fund (FBO#1) — Int/Div — Sold (part)

First Eagle Overseas A Fund (FBO#1) — Int/Div — Sold (part)

Janus Overseas Inv Fund (FBO#1) — None — Sold (part)

MFS Intl New Disc A Fund (FBO) — Int/Div

Morgan Stanley Ins Intl Real Estate (FBO#1) — Int/Div

T Price Media & Tele Fund (FBO#1) — Int/Div — Sold (part)

Yacktman Fund — None — Buy

ATCO Lid Class (FBO) — Int/Div

Canadian Nat Resc (FBO) — Interest

Metro Inc Class A (FBO) — Int/Div

MSCI Canada Index Fund (FBO#1) — Int/Div

Sabine Royalty Trust (FBO#1) — Int/Div

Magellan Midstream (FBO#1) — Int/Div

Sunoco Logistics Partners (FBO) — Int/Div — Buy (add'l)

Sunoco Logistics Partners (FBO) — None — Buy (add'l)

Sunoco Logistics Partners (FBO) — None — Buy (add'l)

Sunoco Logistics Partners (FBO) — None — Buy (add'l)

C&S Realty Fund (FBO%1) — Int/Div

Avalon Bay Comm Inc (FBO#1) — Int/Div

Firstbank PR Mthly 7/11/13 (FBO#1) — Interest

St Bank of India, NY CD 9/26/12 (FBO21) — Interest

Wachovia Bank. semi 8/15/13 (FBO#1) — Interest

Caterpillar Fin Bond (FBO#1) — Interest — Matured

Ft Walton Def, Maty 6/15/12 (FBO#1) — None

GE Cap Corp, semi 8/15/15, (FBO#1) — Interest

Goldman Sachs 10/15/15 (FBO#1) — None — Buy

Marlboro Twp NJ semi 12/1/13 (FBO#1) — Interest

MI Ed Saves Plan Moderate Age-Based Opt 12-14FBO#2No Control — None

MI Ed Savings Plan 100% Equity Opt (FBO#2)No control — None

Phoenix, AZ maty 7/1/14 (FBO#1) — None — Buy

Superior, WI semi 31/14 (FBO#1) — Interest

Westpac Banking Co, semi 12/9/15 (FBO#1) — Int/Div — Buy

Harris Cap (FBO1) — Int/Div

Chemical Bank Savings (FBO#2) — None

Schwab Money Market Fund (FBO#2) — Interest

Abbott Labs (FBO#2) — None — Buy

Apple Inc (FBO#2) — None — Buy

Buffalo Wild Wings Inc (FBO#2) — None — Buy

General Mills Inc (FBO#2) — None — Buy

FBR Small Cap Financial Fund (FBO#2) — None — Sold

ING Global Natural Rese Fund (FBO#2) — Int/Div — Buy

Columbia Seligman Comm Fund (FBO#2) — None — Sold

MFS Unlities Fund (FBO#2) — Int/Div

Ross Stores Inc (FBO#2) — Int/Div — Buy

Thomburg Intl Value A (FBO#2) — Int/Div — Sold

Rovee Low Priced Stock Fund (FBO#2) — Int/Div

Oakmark Equity (FBO%2) — None — Sold (part)

Oakmark Equity (FBO%2) — None — Sold

Vanguard Energy Fund (FBO#2) — Int/Div

Yacktman Fund (FBO#2) — Int/Div — Buy

First Eagle Oversea A Fund (FBO#2) — Int/Div — Sold (part)

Janus Overseas Inv Fund (FBO#2) — Int/Div — Buy

MFS Intl New Disc A Fund (FBO#=2) — Int/Div — Sold (part)

SPDR DJ Int] Real Estate (FBO#22) — Int/Div — Buy

T Price Media & Tele Fund (FBO#2) — Int/Div — Buy

T Rowe Price Fin Sve Fund (FBO#2) — Int/Div — Sold

Morgan Stanley (FBO#2) — None — Buy

Morgan Stanley (FBO#2) — None — Sold

ATCO Lud Class (FBO#2) — Int/Div — Sold (part)

Metro Inc A (FBO#2) — Int/Div

MSC Canada Index (FBO22) — Int/Div — Buy (add'l)

Memill Lynch Bond 3/29/11 (FBO#2) — Interest — Matured

Magellan Midstream (FBO#2) — Int/Div — Sold

Sabine Rovalty Trust (FBO#2) — Int/Div

Alerian Infrastructure Fund (FBO#2) — Int/Div — Buy

Alerian Infrastructure Fund (FBO#2) — None — Buy (add'l)

C&S Realty Fund (FBO#2) — Int/Div

Capital One CD 9/4/12 (FBO#2) — Interest

GE Money Bank CD 10/19/13 (FBO%2) — Interest

Blount Co, TN. semi 6/1/15 (FBO#2) — Interest

Boston. MA semi 1/1/14 (FBO#2) — Interest

Dallas TX maty 2/15/16 (FBO#2) — None — Buy

GE Cap Corp, semi 10/20/16 (FBO#2) — Interest — Buy

JP Morgan 6/1/14 (FBO#2) — Interest

Westpac Banking Co 12/9/15 (FBO«=2) — Interest — Buy

Chemical Bank Cust AGY — Int/Div

Adnan MI City School Dist Bond 5/1/19 — None

Clark Cnty Nev Arpt Bond 7/1/2020 — None

Detriot, MI Bond 5/1/16 — None

Fenmville. MI School Bond 5/1/2020 — None

Fidelity Inter Muni Inc Fd 2036 — Interest

Fitzgerald M1 School Bond 5/1/18 — None

Grosse lle Twp MI School Bond 5/1/2021 — None

Minois ST Agm Bond 1/1/2021 — None

Kalamazoo MI School Bond 5/1/2020 — None

Madison MI School Bond 5/1/17 — None

MI ST Hosp Fin Bond 7/15/2021 — None

Nuveen MI Muni Bd A — Interest

Orchard View MI School Bond 5/1/2013 — None

Romulus MI Tax Increment Fin Bond 111/18 — None

Roval Oak MI Hosp Fin Bond 11/15/2031 — None

Saginaw VyST Univ MI Bond 7/1/17 — None

Sagnaw Vy ST Univ Mich Rev Bond 7/1/18 — None

Spring Tex Indpt School Bond 8/15/18 — None

Warren Mich Bond 10/1/16 — None

Washtenaw Cnty MI Bond 7/1/16 — None

Waverly Mich Cnty School Bond 5/1/18 — None

Agilent Tech Inc — None

Apache Corp — None

Apple Inc — None

Bankamerica Corp New Com NAC — Int/Div

Bristol-Myers Squibb Co — None

Capital World Gwth & Inc Cl A 233 — Int/Div

Caterpillar Tractor Co — None

Celgene Corp Com — None

Conocophillips — Int/Div

Corning Inc — Int/Div

DWS Dreman Small Cap Value CI 1 — Int/Div

Dow Chemical Co — None

DuPont Ei De Nemours Co — Int/Div

Energizer Hldgs Inc — None

Exxon Mobil Corp — Int/Div

Ford Motor Co — None

Hewlett Packard Co — None

Intel Corp — Int/Div

International Business Machs Corp — Int/Div

Medco Health Solutions Inc — None

Schlumberger Ltd — None

Sunoco Inc — Int/Div

Walgreen Co — Int/Div

Zimmer Hidgs — None

Director, R. M. Gerstacker Foundation

Director, Sagmaw Valley State University Foundation

President & Director, Ludington Family Foundation

Agreement — 11/3/2003 — Michigan Judges Retirement Services

Income — 2011 — Federal Court Salary — $165.551.43

1. Deleted all assets from 2010 report that hud been sold or matured.

2, Chemical Bank

Cust Agy details are listed in Part VII lines 260-305.