UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 2004
Check here if Amendment [ ]; Amendment Number: ____
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Chemical Bank and Trust Company
Address: 333 E. Main Street
Midland, MI 48640
Form 13F File Number: 28-4110
The institutional investment manager filing this report and the person by
whom it is signed hereby represent that the person signing the report is
authorized to submit it, that all information contained herein is true,
correct and complete, and that it is understood that all required items,
statements, schedules, lists, and tables, are considered integral parts of
this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Bruce M. Groom
Title: Executive Vice President and Sr. Trust Officer
Phone: (517) 839-5305
Signature, Place, and Date of Signing:
/s/ Bruce M. Groom Midland, MI June 30, 2004
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report,
and all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
------------
Form 13F Information Table Entry Total: 314
------------
Form 13F Information Table Value Total: $496,187
------------
(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and 13F file number(s) of all
institutional investment managers with respect to which this report is
filed, other than the manager filing this report.
None.
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
--------------------------- -------------- --------- -------- -------------------- ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------- -------------- --------- -------- ------- --- ---- ---------- -------- ------- ------ ----
Transocean Inc. Common G9007810-9 2,458 84,942 Shares Sole 82,442 2,500
---------------------------------------------------------------------------------------------------------------------------------
Transocean Inc. Common G9007810-9 17 600 Shares Shared 600
---------------------------------------------------------------------------------------------------------------------------------
AFLAC Inc. Common 00105510-2 3,106 76,103 Shares Sole 73,903 2,200
---------------------------------------------------------------------------------------------------------------------------------
AFLAC Inc. Common 00105510-2 255 6,248 Shares Shared 5,148 1,100
---------------------------------------------------------------------------------------------------------------------------------
Abbott Labs Common 00282410-0 2,337 57,327 Shares Sole 56,927 400
---------------------------------------------------------------------------------------------------------------------------------
Abbott Labs Common 00282410-0 406 9,950 Shares Shared 9,300 650
---------------------------------------------------------------------------------------------------------------------------------
Affiliated Computer Common 00819010-0 1,286 24,297 Shares Sole 24,297
---------------------------------------------------------------------------------------------------------------------------------
Affiliated Computer Common 00819010-0 37 700 Shares Shared 500 200
---------------------------------------------------------------------------------------------------------------------------------
Alcoa Inc. Common 01381710-1 604 18,290 Shares Sole 18,290
---------------------------------------------------------------------------------------------------------------------------------
Alcoa Inc. Common 01381710-1 17 500 Shares Shared 500
---------------------------------------------------------------------------------------------------------------------------------
Allstate Corp. Common 02000210-1 504 10,830 Shares Sole 10,830
---------------------------------------------------------------------------------------------------------------------------------
Allstate Corp. Common 02000210-1 285 6,120 Shares Shared 5,520 600
---------------------------------------------------------------------------------------------------------------------------------
Ambac Finl Group Inc. Common 02313910-8 191 2,600 Shares Sole 2,600
---------------------------------------------------------------------------------------------------------------------------------
Ambac Finl Group Inc. Common 02313910-8 15 200 Shares Shared 200
---------------------------------------------------------------------------------------------------------------------------------
American Elec Pwr Inc. Common 02553710-1 325 10,164 Shares Sole 10,164
---------------------------------------------------------------------------------------------------------------------------------
American Elec Pwr Inc. Common 02553710-1 25 766 Shares Shared 766
---------------------------------------------------------------------------------------------------------------------------------
American Express Co. Common 02581610-9 235 4,575 Shares Sole 4,575
---------------------------------------------------------------------------------------------------------------------------------
American Express Co. Common 02581610-9 26 500 Shares Shared 500
---------------------------------------------------------------------------------------------------------------------------------
American Intl Group Inc. Common 02687410-7 4,470 62,716 Shares Sole 61,416 1,300
---------------------------------------------------------------------------------------------------------------------------------
American Intl Group Inc. Common 02687410-7 127 1,775 Shares Shared 1,775
---------------------------------------------------------------------------------------------------------------------------------
Amgen Inc. Common 03116210-0 798 14,620 Shares Sole 14,620
---------------------------------------------------------------------------------------------------------------------------------
Amgen Inc. Common 03116210-0 106 1,940 Shares Shared 1,940
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Page 1 of 14
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
--------------------------- -------------- --------- -------- -------------------- ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------- -------------- --------- -------- ------- --- ---- ---------- -------- ------- ------ ----
Analog Devices Inc. Common 03265410-5 4,056 86,161 Shares Sole 83,161 3,000
---------------------------------------------------------------------------------------------------------------------------------
Analog Devices Inc. Common 03265410-5 42 900 Shares Shared 500 400
---------------------------------------------------------------------------------------------------------------------------------
Anheuser Busch Inc. Common 03522910-3 797 14,750 Shares Sole 13,150 1,600
---------------------------------------------------------------------------------------------------------------------------------
Anheuser Busch Inc.. Common 03522910-3 178 3,300 Shares Shared 3,300
---------------------------------------------------------------------------------------------------------------------------------
Anthem Inc. Common 03674B10-4 269 3,000 Shares Sole 3,000
---------------------------------------------------------------------------------------------------------------------------------
Aon Corp. Common 03738910-3 216 7,600 Shares Sole 7,600
---------------------------------------------------------------------------------------------------------------------------------
Aon Corp. Common 03738910-3 17 600 Shares Shared 600
---------------------------------------------------------------------------------------------------------------------------------
Apache Corp. Common 03741110-5 1,272 29,213 Shares Sole 29,213
---------------------------------------------------------------------------------------------------------------------------------
Apache Corp. Common 03741110-5 108 2,470 Shares Shared 2,050 420
---------------------------------------------------------------------------------------------------------------------------------
Applied Matls Inc. Common 03822210-5 443 22,600 Shares Sole 22,600
---------------------------------------------------------------------------------------------------------------------------------
Automatic Data Processing Common 05301510-3 1,434 34,250 Shares Sole 34,250
---------------------------------------------------------------------------------------------------------------------------------
Automatic Data Processing Common 05301510-3 77 1,850 Shares Shared 1,850
---------------------------------------------------------------------------------------------------------------------------------
Avery Dennison Corp. Common 05361110-9 1,819 28,425 Shares Sole 28,425
---------------------------------------------------------------------------------------------------------------------------------
Avery Dennison Corp. Common 05361110-9 38 600 Shares Shared 300 300
---------------------------------------------------------------------------------------------------------------------------------
Avon Prods Inc. Common 05430310-2 783 16,970 Shares Sole 16,970
---------------------------------------------------------------------------------------------------------------------------------
Avon Prods Inc. Common 05430310-2 102 2,200 Shares Shared 1,700 500
---------------------------------------------------------------------------------------------------------------------------------
BP PLC Common 05562210-4 1,976 36,887 Shares Sole 34,543 2,344
---------------------------------------------------------------------------------------------------------------------------------
BP PLC Common 05562210-4 221 4,130 Shares Shared 3,224 906
---------------------------------------------------------------------------------------------------------------------------------
Bankamerica Corp. New Common 06050510-4 2,432 28,741 Shares Sole 28,741
---------------------------------------------------------------------------------------------------------------------------------
Bankamerica Corp. New Common 06050510-4 195 2,300 Shares Shared 2,100 200
---------------------------------------------------------------------------------------------------------------------------------
Bank New York Inc. Common 06405710-2 456 15,458 Shares Sole 12,476 2,982
---------------------------------------------------------------------------------------------------------------------------------
Page 2 of 14
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
--------------------------- -------------- --------- -------- -------------------- ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------- -------------- --------- -------- ------- --- ---- ---------- -------- ------- ------ ----
Bank One Corp. Common 06423A10-3 4,999 98,015 Shares Sole 97,691 324
---------------------------------------------------------------------------------------------------------------------------------
Bank One Corp. Common 06423A10-3 74 1,442 Shares Shared 442 1,000
---------------------------------------------------------------------------------------------------------------------------------
Baxter Intl Inc. Common 07181310-9 1,705 49,418 Shares Sole 46,618 2,800
---------------------------------------------------------------------------------------------------------------------------------
BellSouth Corp. Common 07986010-2 914 34,873 Shares Sole 34,873
---------------------------------------------------------------------------------------------------------------------------------
BellSouth Corp. Common 07986010-2 211 8,036 Shares Shared 8,036
---------------------------------------------------------------------------------------------------------------------------------
Black & Decker Corp. Common 09179710-0 1,578 25,400 Shares Sole 25,400
---------------------------------------------------------------------------------------------------------------------------------
Black & Decker Corp. Common 09179710-0 59 950 Shares Shared 450 500
---------------------------------------------------------------------------------------------------------------------------------
Boeing Co. Common 09702310-5 188 3,671 Shares Sole 3,671
---------------------------------------------------------------------------------------------------------------------------------
Boeing Co. Common 09702310-5 41 800 Shares Shared 800
---------------------------------------------------------------------------------------------------------------------------------
Brinker Intl. Inc. Common 10964110-0 2,503 73,350 Shares Sole 70,350 3,000
---------------------------------------------------------------------------------------------------------------------------------
Brinker Intl. Inc. Common 10964110-0 22 650 Shares Shared 650
---------------------------------------------------------------------------------------------------------------------------------
Bristol-Myers Squibb Co. Common 11012210-8 432 17,650 Shares Sole 16,850 800
---------------------------------------------------------------------------------------------------------------------------------
Bristol-Myers Squibb Co. Common 10112210-8 109 4,468 Shares Shared 4,468
---------------------------------------------------------------------------------------------------------------------------------
Burl Northern Santa Fe Corp. Common 12189T10-4 604 17,227 Shares Sole 17,227
---------------------------------------------------------------------------------------------------------------------------------
Canadian Natl Ry Co. Common 13637510-2 816 18,712 Shares Sole 15,712 3,000
---------------------------------------------------------------------------------------------------------------------------------
Canadian Natl Ry Co. Common 13637510-2 65 1,500 Shares Shared 1,500
---------------------------------------------------------------------------------------------------------------------------------
Capital 1 Financial Common 14040H10-5 137 2,000 Shares Sole 2,000
---------------------------------------------------------------------------------------------------------------------------------
Capital 1 Financial Common 14040H10-5 68 1,000 Shares Shared 1,000
---------------------------------------------------------------------------------------------------------------------------------
Cardinal Health Common 14149Y10-8 3,367 48,071 Shares Sole 46,571 1,500
---------------------------------------------------------------------------------------------------------------------------------
Cardinal Health Common 14149Y10-8 212 3,025 Shares Shared 2,725 300
---------------------------------------------------------------------------------------------------------------------------------
Caremark Rx Inc. Common 14170510-3 822 24,960 Shares Sole 24,960
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Page 3 of 14
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
--------------------------- -------------- --------- -------- -------------------- ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------- -------------- --------- -------- ------- --- ---- ---------- -------- ------- ------ ----
Caremark Rx Inc. Common 14170510-3 105 3,180 Shares Shared 3,180
---------------------------------------------------------------------------------------------------------------------------------
Caterpillar Tractor Co. Common 14912310-1 195 2,450 Shares Sole 2,450
---------------------------------------------------------------------------------------------------------------------------------
Caterpillar Tractor Co. Common 14912310-1 79 1,000 Shares Shared 1,000
---------------------------------------------------------------------------------------------------------------------------------
Centurytel Inc. Common 15670010-6 2,715 90,390 Shares Sole 90,390
---------------------------------------------------------------------------------------------------------------------------------
Centurytel Inc. Common 15670010-6 26 850 Shares Shared 850
---------------------------------------------------------------------------------------------------------------------------------
Chemical Financial Corp. Common 16373110-2 54,958 1,489,788 Shares Sole 1,292,700 197,088
---------------------------------------------------------------------------------------------------------------------------------
Chemical Financial Corp. Common 16373110-2 11,995 325,162 Shares Shared 324,340 822
---------------------------------------------------------------------------------------------------------------------------------
Chevrontexaco Corp. Common 16676410-0 2,015 21,414 Shares Sole 17,644 3,770
---------------------------------------------------------------------------------------------------------------------------------
Chevrontexaco Corp. Common 16676410-0 201 2,138 Shares Shared 2,138
---------------------------------------------------------------------------------------------------------------------------------
Choiceone Financial Services Common 17038610-6 650 31,515 Shares Sole 31,515
---------------------------------------------------------------------------------------------------------------------------------
Cisco Systems Inc. Common 17275R10-2 4,035 170,266 Shares Sole 165,266 5,000
---------------------------------------------------------------------------------------------------------------------------------
Cisco Systems Inc. Common 17275R10-2 265 11,200 Shares Shared 11,200
---------------------------------------------------------------------------------------------------------------------------------
Citigroup Inc. Common 17296710-1 5,129 110,308 Shares Sole 108,208 2,100
---------------------------------------------------------------------------------------------------------------------------------
Citigroup Inc. Common 17296710-1 129 2,768 Shares Shared 2,468 300
---------------------------------------------------------------------------------------------------------------------------------
Citizens Bkg Corp. MI Common 17442010-9 2,842 91,544 Shares Sole 67,115 24,429
---------------------------------------------------------------------------------------------------------------------------------
Citizens Bkg Corp. MI Common 17442010-9 18 570 Shares Shared 570
---------------------------------------------------------------------------------------------------------------------------------
Citrix Systems Inc. Common 17737610-0 456 22,400 Shares Sole 22,400
---------------------------------------------------------------------------------------------------------------------------------
Citrix Systems Inc. Common 17737610-0 12 600 Shares Shared 600
---------------------------------------------------------------------------------------------------------------------------------
Coca Cola Co. Common 19121610-0 366 7,245 Shares Sole 4,845 2,400
---------------------------------------------------------------------------------------------------------------------------------
Coca Cola Co. Common 19121610-0 15 300 Shares Shared 300
---------------------------------------------------------------------------------------------------------------------------------
Colgate Palmolive Co. Common 19416210-3 507 8,675 Shares Sole 8,675
---------------------------------------------------------------------------------------------------------------------------------
Colgate Palmolive Co. Common 19416210-3 129 2,200 Shares Shared 2,000 200
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Page 4 of 14
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
--------------------------- -------------- --------- -------- -------------------- ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------- -------------- --------- -------- ------- --- ---- ---------- -------- ------- ------ ----
Comerica Inc. Common 20034010-7 2,420 44,103 Shares Sole 42,453 1,650
---------------------------------------------------------------------------------------------------------------------------------
Comerica Inc. Common 20034010-7 280 5,100 Shares Shared 4,300 800
---------------------------------------------------------------------------------------------------------------------------------
Commercial Natl Finl Corp. Common 20221610-7 600 53,296 Shares Sole 53,296
---------------------------------------------------------------------------------------------------------------------------------
Conocophillips Common 20825C10-4 1,284 16,826 Shares Sole 16,826
---------------------------------------------------------------------------------------------------------------------------------
Conocophillips Common 20825C10-4 76 1,000 Shares Shared 1,000
---------------------------------------------------------------------------------------------------------------------------------
Corning Inc. Common 21935010-5 349 26,718 Shares Sole 26,718
---------------------------------------------------------------------------------------------------------------------------------
DTE Energy Co. Common 23333110-7 158 3,904 Shares Sole 3,904
---------------------------------------------------------------------------------------------------------------------------------
DTE Energy Co. Common 23333110-7 49 1,208 Shares Shared 1,036 172
---------------------------------------------------------------------------------------------------------------------------------
Danaher Corp. Common 23585110-2 3,317 63,971 Shares Sole 61,171 2,800
---------------------------------------------------------------------------------------------------------------------------------
Danaher Corp. Common 23585110-2 36 700 Shares Shared 700
---------------------------------------------------------------------------------------------------------------------------------
Dell Inc. Common 24702R10-1 3,024 84,436 Shares Sole 81,236 3,200
---------------------------------------------------------------------------------------------------------------------------------
Dell Inc. Common 24702R10-1 100 2,800 Shares Shared 2,100 700
---------------------------------------------------------------------------------------------------------------------------------
Dominion Res Inc. VA Common 25746U10-9 657 10,410 Shares Sole 10,410
---------------------------------------------------------------------------------------------------------------------------------
Dominion Res Inc. VA Common 25746U10-9 82 1,300 Shares Shared 1,100 200
---------------------------------------------------------------------------------------------------------------------------------
Donnelley RR & Sons Co. Common 25786710-1 258 7,800 Shares Sole 7,800
---------------------------------------------------------------------------------------------------------------------------------
Dow Chemical Co. Common 26054310-3 128,960 3,168,548 Shares Sole 2,822,788 345,760
---------------------------------------------------------------------------------------------------------------------------------
Dow Chemical Co. Common 26054310-3 18,872 463,697 Shares Shared 291,062 2,600 170,035
---------------------------------------------------------------------------------------------------------------------------------
DuPont Ei De Nemours & Co. Common 26353410-9 599 13,485 Shares Sole 13,317 168
---------------------------------------------------------------------------------------------------------------------------------
DuPont Ei De Nemours & Co. Common 26353410-9 107 2,400 Shares Shared 2,400
---------------------------------------------------------------------------------------------------------------------------------
Eaton Corp. Common 27805810-2 356 5,500 Shares Sole 4,500 1,000
---------------------------------------------------------------------------------------------------------------------------------
Ecolab Inc. Common 27886510-0 1,208 38,110 Shares Sole 38,110
---------------------------------------------------------------------------------------------------------------------------------
Ecolab Inc. Common 27886510-0 76 2,400 Shares Shared 2,400
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Page 5 of 14
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
--------------------------- -------------- --------- -------- -------------------- ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------- -------------- --------- -------- ------- --- ---- ---------- -------- ------- ------ ----
Electro Scientific Inds. Inc. Common 28522910-0 257 9,095 Shares Sole 9,095
---------------------------------------------------------------------------------------------------------------------------------
Electronic Arts Inc. Common 28551210-9 2,092 38,350 Shares Sole 38,350
---------------------------------------------------------------------------------------------------------------------------------
Electronic Arts Inc. Common 28551210-9 112 2,050 Shares Shared 1,650 400
---------------------------------------------------------------------------------------------------------------------------------
Emerson Elec Co. Common 29101110-4 1,303 20,505 Shares Sole 18,455 2,050
---------------------------------------------------------------------------------------------------------------------------------
Emerson Elec Co. Common 29101110-4 121 1,900 Shares Shared 1,900
---------------------------------------------------------------------------------------------------------------------------------
Encana Corp. Common 29250510-4 600 13,900 Shares Sole 13,900
---------------------------------------------------------------------------------------------------------------------------------
Encana Corp. Common 29250510-4 9 200 Shares Shared 200
---------------------------------------------------------------------------------------------------------------------------------
Energy East Corp. Common 29266M10-9 1,850 76,300 Shares Sole 76,300
---------------------------------------------------------------------------------------------------------------------------------
Energy East Corp. Common 29266M10-9 96 3,975 Shares Shared 3,625 350
---------------------------------------------------------------------------------------------------------------------------------
Equity Residential SBI Common 29476L10-7 725 24,374 Shares Sole 24,374
---------------------------------------------------------------------------------------------------------------------------------
Equity Residential SBI Common 29476L10-7 59 2,000 Shares Shared 2,000
---------------------------------------------------------------------------------------------------------------------------------
Exelon Corp. Common 30161N10-1 677 20,338 Shares Sole 20,338
---------------------------------------------------------------------------------------------------------------------------------
Express Scripts Inc. Cl A Common 30218210-0 317 4,000 Shares Sole 4,000
---------------------------------------------------------------------------------------------------------------------------------
Express Scripts Inc. Cl A Common 30218210-0 276 3,480 Shares Shared 3,480
---------------------------------------------------------------------------------------------------------------------------------
Exxon Mobil Corp. Common 30231G10-2 15,758 354,826 Shares Sole 336,282 18,544
---------------------------------------------------------------------------------------------------------------------------------
Exxon Mobil Corp. Common 30231G10-2 1,029 23,167 Shares Shared 21,667 1,500
---------------------------------------------------------------------------------------------------------------------------------
FPL Group Inc. Common 30257110-4 200 3,130 Shares Sole 3,130
---------------------------------------------------------------------------------------------------------------------------------
FPL Group Inc. Common 30257110-4 50 786 Shares Shared 786
---------------------------------------------------------------------------------------------------------------------------------
Fastenal Common 31190010-4 153 2,700 Shares Sole 2,700
---------------------------------------------------------------------------------------------------------------------------------
Fastenal Common 31190010-4 114 2,000 Shares Shared 2,000
---------------------------------------------------------------------------------------------------------------------------------
Federal Home Ln Mtg Corp. Common 31340030-1 184 2,900 Shares Sole 2,900
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Page 6 of 14
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
--------------------------- -------------- --------- -------- -------------------- ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------- -------------- --------- -------- ------- --- ---- ---------- -------- ------- ------ ----
Federal Home Ln Mtg. Corp. Common 31340030-1 28 450 Shares Shared 450
---------------------------------------------------------------------------------------------------------------------------------
Federal Natl. Mtg. Assn. Common 31358610-9 4,719 66,131 Shares Sole 65,031 1,100
---------------------------------------------------------------------------------------------------------------------------------
Federal Natl. Mtg. Assn. Common 31358610-9 43 600 Shares Shared 600
---------------------------------------------------------------------------------------------------------------------------------
Fed Dept. Stores Inc. Common 31410H10-1 354 7,200 Shares Sole 7,200
---------------------------------------------------------------------------------------------------------------------------------
Fifth Third Bancorp Common 31677310-0 745 13,848 Shares Sole 13,848
---------------------------------------------------------------------------------------------------------------------------------
Fifth Third Bancorp Common 31677310-0 756 14,062 Shares Shared 11,915 1,168 979
---------------------------------------------------------------------------------------------------------------------------------
First Data Corp. Common 31996310-4 216 4,860 Shares Sole 4,860
---------------------------------------------------------------------------------------------------------------------------------
First Data Corp. Common 31996310-4 26 584 Shares Shared 584
---------------------------------------------------------------------------------------------------------------------------------
Firstbank Corp. MI Common 33761G10-4 1,375 47,332 Shares Sole 47,332
---------------------------------------------------------------------------------------------------------------------------------
Fiserv Inc. Common 33773810-8 1,745 44,875 Shares Sole 44,875
---------------------------------------------------------------------------------------------------------------------------------
Fiserv Inc. Common 33773810-8 97 2,500 Shares Shared 2,500
---------------------------------------------------------------------------------------------------------------------------------
Ford Motor Co. Common 34537086-0 145 9,269 Shares Sole 8,990 279
---------------------------------------------------------------------------------------------------------------------------------
Ford Motor Co. Common 34537086-0 42 2,700 Shares Shared 2,700
---------------------------------------------------------------------------------------------------------------------------------
Forest Lab Inc. Common 34583810-6 1,031 18,200 Shares Sole 18,200
---------------------------------------------------------------------------------------------------------------------------------
Forest Lab Inc. Common 34583810-6 14 250 Shares Shared 250
---------------------------------------------------------------------------------------------------------------------------------
Gannett, Inc. Common 36473010-1 763 8,996 Shares Sole 8,996
---------------------------------------------------------------------------------------------------------------------------------
Gannett, Inc. Common 36473010-1 47 550 Shares Shared 550
---------------------------------------------------------------------------------------------------------------------------------
General Dynamics Co. Common 36955010-8 1,480 14,900 Shares Sole 13,900 1,000
---------------------------------------------------------------------------------------------------------------------------------
General Dynamics Co. Common 36955010-8 70 700 Shares Shared 700
---------------------------------------------------------------------------------------------------------------------------------
General Elec Co. Common 36960410-3 11,825 364,965 Shares Sole 356,465 8,500
---------------------------------------------------------------------------------------------------------------------------------
General Elec Co. Common 36960410-3 998 30,808 Shares Shared 29,808 1,000
---------------------------------------------------------------------------------------------------------------------------------
General Mls Inc. Common 37033410-4 943 19,850 Shares Sole 19,850
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General Mls Inc. Common 37033410-4 49 1,040 Shares Shared 740 300
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Page 7 of 14
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
--------------------------- -------------- --------- -------- -------------------- ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------- -------------- --------- -------- ------- --- ---- ---------- -------- ------- ------ ----
General Mtrs. Corp. Common 37044210-5 822 17,637 Shares Sole 17,016 621
---------------------------------------------------------------------------------------------------------------------------------
General Mtrs. Corp. Common 37044210-5 106 2,282 Shares Shared 2,282
---------------------------------------------------------------------------------------------------------------------------------
Gentex Corp. Common 37190110-9 397 10,000 Shares Sole 10,000
---------------------------------------------------------------------------------------------------------------------------------
Gentex Corp. Common 37190110-9 175 4,400 Shares Shared 4,400
---------------------------------------------------------------------------------------------------------------------------------
Genuine Parts Co. Common 37246010-5 366 9,219 Shares Sole 9,219
---------------------------------------------------------------------------------------------------------------------------------
Genuine Parts Co. Common 37246010-5 14 350 Shares Shared 350
---------------------------------------------------------------------------------------------------------------------------------
Gillette Co. Common 37576610-2 325 7,670 Shares Sole 7,670
---------------------------------------------------------------------------------------------------------------------------------
W.R. Grace & Co. Common 38388F10-8 78 12,500 Shares Sole 12,500
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Great Plains Energy Inc. Common 39116410-0 226 7,600 Shares Sole 7,600
---------------------------------------------------------------------------------------------------------------------------------
Harken Energy Corp. Common 41255230-9 13 25,481 Shares Sole 25,481
---------------------------------------------------------------------------------------------------------------------------------
Harley Davidson Inc. Common 41282210-8 1,406 22,693 Shares Sole 22,593 100
---------------------------------------------------------------------------------------------------------------------------------
Harley Davidson Inc. Common 41282210-8 65 1,050 Shares Shared 1,050
---------------------------------------------------------------------------------------------------------------------------------
Harris Corp. Common 41387510-5 208 4,100 Shares Sole 4,100
---------------------------------------------------------------------------------------------------------------------------------
Heinz H.J. Co. Common 42307410-3 572 14,589 Shares Sole 14,589
---------------------------------------------------------------------------------------------------------------------------------
Heinz H.J. Co. Common 42307410-3 174 4,450 Shares Shared 3,550 900
---------------------------------------------------------------------------------------------------------------------------------
Hewlett Packard Co. Common 42823610-3 1,458 69,106 Shares Sole 68,706 400
---------------------------------------------------------------------------------------------------------------------------------
Hewlett Packard Co. Common 42823610-3 61 2,906 Shares Shared 2,906
---------------------------------------------------------------------------------------------------------------------------------
Home Depot, Inc. Common 43707610-2 2,667 75,761 Shares Sole 72,961 2,800
---------------------------------------------------------------------------------------------------------------------------------
Home Depot, Inc. Common 43707610-2 352 10,000 Shares Shared 10,000
---------------------------------------------------------------------------------------------------------------------------------
Huntington Bancshares, Inc. Common 44615010-4 575 25,000 Shares Sole 25,000
---------------------------------------------------------------------------------------------------------------------------------
Huntington Bancshares, Inc. Common 44615010-4 228 9,920 Shares Shared 9,920
---------------------------------------------------------------------------------------------------------------------------------
IBT Bancorp MI Common 44922P10-7 383 9,240 Shares Sole 9,240
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Page 8 of 14
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
--------------------------- -------------- --------- -------- -------------------- ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------- -------------- --------- -------- ------- --- ---- ---------- -------- ------- ------ ----
Illinois Tool Works Inc. Common 45230810-9 38 400 Shares Sole 400
---------------------------------------------------------------------------------------------------------------------------------
Illinois Tool Works Inc. Common 45230810-9 195 2,029 Shares Shared 2,029
---------------------------------------------------------------------------------------------------------------------------------
Ingram Micro Inc. Cl A Common 45715310-4 239 16,500 Shares Sole 16,500
---------------------------------------------------------------------------------------------------------------------------------
Intel Corp. Common 45814010-0 1,273 46,124 Shares Sole 43,724 2,400
---------------------------------------------------------------------------------------------------------------------------------
Intel Corp. Common 45814010-0 155 5,600 Shares Shared 5,400 200
---------------------------------------------------------------------------------------------------------------------------------
IBM Corp. Common 45920010-1 3,664 41,561 Shares Sole 39,561 2,000
---------------------------------------------------------------------------------------------------------------------------------
IBM Corp. Common 45920010-1 399 4,525 Shares Shared 3,925 600
---------------------------------------------------------------------------------------------------------------------------------
J.P. Morgan Chase & Co. Common 46625H10-0 354 9,135 Shares Sole 9,135
---------------------------------------------------------------------------------------------------------------------------------
J.P. Morgan Chase & Co. Common 46625H10-0 12 312 Shares Shared 312
---------------------------------------------------------------------------------------------------------------------------------
Jacobs Engr Group Inc. Common 46981410-7 1,963 49,850 Shares Sole 49,850
---------------------------------------------------------------------------------------------------------------------------------
Jacobs Ingr Group Inc. Common 46981410-7 128 3,250 Shares Shared 3,250
---------------------------------------------------------------------------------------------------------------------------------
Johnson & Johnson Common 47816010-4 5,564 99,895 Shares Sole 97,495 2,400
---------------------------------------------------------------------------------------------------------------------------------
Johnson & Johnson Common 47816010-4 568 10,200 Shares Shared 10,200
---------------------------------------------------------------------------------------------------------------------------------
Johnson Ctls Inc. Common 47836610-7 528 9,900 Shares Sole 9,900
---------------------------------------------------------------------------------------------------------------------------------
Johnson Ctls Inc. Common 47836610-7 53 1,000 Shares Shared 1,000
---------------------------------------------------------------------------------------------------------------------------------
Kellogg Co. Common 48783610-8 656 15,680 Shares Sole 12,280 3,400
---------------------------------------------------------------------------------------------------------------------------------
Kellogg Co. Common 48783610-8 896 21,400 Shares Shared 21,400
---------------------------------------------------------------------------------------------------------------------------------
Keycorp Common 49326710-8 587 19,636 Shares Sole 19,636
---------------------------------------------------------------------------------------------------------------------------------
Kimberly Clark Corp. Common 49436810-3 453 6,875 Shares Sole 6,875
---------------------------------------------------------------------------------------------------------------------------------
Kimberly Clark Corp. Common 49436810-3 92 1,400 Shares Shared 1,400
---------------------------------------------------------------------------------------------------------------------------------
Kohl's Corp. Common 50025510-4 2,375 56,170 Shares Sole 56,170
---------------------------------------------------------------------------------------------------------------------------------
Kohl's Corp. Common 50025510-4 47 1,100 Shares Shared 1,100
---------------------------------------------------------------------------------------------------------------------------------
Lehman Brothers Holdings Common 52490810-0 232 3,086 Shares Sole 3,086
---------------------------------------------------------------------------------------------------------------------------------
Lilly Eli & Co. Common 53245710-8 754 10,790 Shares Sole 10,790
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Page 9 of 14
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
--------------------------- -------------- --------- -------- -------------------- ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------- -------------- --------- -------- ------- --- ---- ---------- -------- ------- ------ ----
Lilly Eli & Co. Common 53245710-8 14 200 Shares Shared 200
---------------------------------------------------------------------------------------------------------------------------------
Linear Technology Corp. Common 53567810-6 1,022 25,900 Shares Sole 25,900
---------------------------------------------------------------------------------------------------------------------------------
Linear Technology Corp. Common 53567810-6 34 850 Shares Shared 850
---------------------------------------------------------------------------------------------------------------------------------
Lockheed Martin Corp. Common 53983010-9 225 4,321 Shares Sole 3,696 625
---------------------------------------------------------------------------------------------------------------------------------
Lowes Cos Inc. Common 54866110-7 1,505 28,630 Shares Sole 28,630
---------------------------------------------------------------------------------------------------------------------------------
Lowes Cos. Inc. Common 54866110-7 102 1,950 Shares Shared 1,950
---------------------------------------------------------------------------------------------------------------------------------
MBIA Inc. Common 55262C10-0 708 12,400 Shares Sole 12,400
---------------------------------------------------------------------------------------------------------------------------------
MBIA Inc. Common 55262C10-0 60 1,050 Shares Shared 1,050
---------------------------------------------------------------------------------------------------------------------------------
MBNA Corp. Common 55262L10-0 248 9,618 Shares Sole 9,618
---------------------------------------------------------------------------------------------------------------------------------
MBNA Corp. Common 55262L10-0 68 2,650 Shares Shared 2,650
---------------------------------------------------------------------------------------------------------------------------------
Marathon Oil Corp. Common 56584910-6 518 13,700 Shares Sole 13,700
---------------------------------------------------------------------------------------------------------------------------------
Masco Corp. Common 57459910-6 1,557 49,950 Shares Sole 49,950
---------------------------------------------------------------------------------------------------------------------------------
Masco Corp. Common 57459910-6 12 400 Shares Shared 400
---------------------------------------------------------------------------------------------------------------------------------
McGraw Hill Inc. Common 58064510-9 322 4,200 Shares Sole 4,200
---------------------------------------------------------------------------------------------------------------------------------
McGraw Hill Inc. Common 58064510-9 31 400 Shares Shared 400
---------------------------------------------------------------------------------------------------------------------------------
Medtronic Inc. Common 58505510-6 2,721 55,840 Shares Sole 55,840
---------------------------------------------------------------------------------------------------------------------------------
Medtronic Inc. Common 58505510-6 101 2,065 Shares Shared 2,065
---------------------------------------------------------------------------------------------------------------------------------
Merck & Co. Inc. Common 58933110-7 6,397 134,666 Shares Sole 133,066 1,600
---------------------------------------------------------------------------------------------------------------------------------
Merck & Co. Inc. Common 58933110-7 246 5,175 Shares Shared 4,075 1,100
---------------------------------------------------------------------------------------------------------------------------------
Microsoft Corp. Common 59491810-4 5,833 204,223 Shares Sole 201,223 3,000
---------------------------------------------------------------------------------------------------------------------------------
Microsoft Corp. Common 59491810-4 503 17,625 Shares Shared 16,325 1,300
---------------------------------------------------------------------------------------------------------------------------------
Microchip Tech Common 59501710-4 311 9,850 Shares Sole 9,850
---------------------------------------------------------------------------------------------------------------------------------
Microchip Tech Common 59501710-4 55 1,750 Shares Shared 1,750
---------------------------------------------------------------------------------------------------------------------------------
Morgan Stanley Common 61744644-8 3,022 57,276 Shares Sole 56,950 326
---------------------------------------------------------------------------------------------------------------------------------
Page 10 of 14
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
--------------------------- -------------- --------- -------- -------------------- ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------- -------------- --------- -------- ------- --- ---- ---------- -------- ------- ------ ----
Morgan Stanley Common 61744644-8 119 2,250 Shares Shared 550 1,700
---------------------------------------------------------------------------------------------------------------------------------
National City Corp. Common 63540510-3 186 5,308 Shares Sole 4,500 808
---------------------------------------------------------------------------------------------------------------------------------
National City Corp. Common 63540510-3 46 1,316 Shares Shared 720 596
---------------------------------------------------------------------------------------------------------------------------------
Neogen Corp. Common 64049110-6 203 11,780 Shares Sole 11,780
---------------------------------------------------------------------------------------------------------------------------------
Newell Rubbermaid Inc. Common 65122910-6 632 26,875 Shares Sole 26,575 300
---------------------------------------------------------------------------------------------------------------------------------
Newell Rubbermaid Inc. Common 65122910-6 87 3,700 Shares Shared 2,900 800
---------------------------------------------------------------------------------------------------------------------------------
Nicor Inc. Common 65408610-7 192 5,650 Shares Sole 5,650
---------------------------------------------------------------------------------------------------------------------------------
Nicor Inc. Common 65408610-7 82 2,400 Shares Shared 2,400
---------------------------------------------------------------------------------------------------------------------------------
Old Second Bancorp Inc IL Common 68027710-0 302 5,734 Shares Shared 5,734
---------------------------------------------------------------------------------------------------------------------------------
Patterson Dental Common 70341210-6 199 2,600 Shares Sole 2,600
---------------------------------------------------------------------------------------------------------------------------------
Patterson Dental Common 70341210-6 69 900 Shares Shared 900
---------------------------------------------------------------------------------------------------------------------------------
Pepsico Inc. Common 71344810-8 4,546 84,377 Shares Sole 82,277 2,100
---------------------------------------------------------------------------------------------------------------------------------
Pepsico Inc. Common 71344810-8 225 4,170 Shares Shared 2,950 1,220
---------------------------------------------------------------------------------------------------------------------------------
Pfizer Inc. Common 71708110-3 9,687 282,595 Shares Sole 268,054 14,541
---------------------------------------------------------------------------------------------------------------------------------
Pfizer Inc. Common 71708110-3 481 14,019 Shares Shared 13,169 850
---------------------------------------------------------------------------------------------------------------------------------
Praxair Inc. Common 74005P10-4 242 6,074 Shares Sole 6,074
---------------------------------------------------------------------------------------------------------------------------------
Praxair Inc. Common 74005P10-4 80 2,000 Shares Shared 1,700 300
---------------------------------------------------------------------------------------------------------------------------------
Procter & Gamble Co. Common 74271810-9 6,777 124,486 Shares Sole 124,086 400
---------------------------------------------------------------------------------------------------------------------------------
Procter & Gamble Co. Common 74271810-9 266 4,888 Shares Shared 3,520 1,368
---------------------------------------------------------------------------------------------------------------------------------
Progress Energy Common 74326310-5 448 10,170 Shares Sole 10,170
---------------------------------------------------------------------------------------------------------------------------------
Quest Diagnostics Inc. Common 74834L10-0 1,939 22,824 Shares Sole 22,824
---------------------------------------------------------------------------------------------------------------------------------
Quest Diagnostics Inc. Common 74834L10-0 93 1,100 Shares Shared 1,100
---------------------------------------------------------------------------------------------------------------------------------
RPM International Inc. Common 74968510-3 880 57,896 Shares Sole 57,896
---------------------------------------------------------------------------------------------------------------------------------
Rockwell Automation Inc. Common 77390310-9 1,350 35,990 Shares Sole 35,990
---------------------------------------------------------------------------------------------------------------------------------
Page 11 of 14
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
--------------------------- -------------- --------- -------- -------------------- ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------- -------------- --------- -------- ------- --- ---- ---------- -------- ------- ------ ----
Rockwell Automation Inc. Common 77390310-9 30 800 Shares Shared 800
---------------------------------------------------------------------------------------------------------------------------------
Royal Dutch Pete Co. Common 78025780-4 392 7,583 Shares Sole 7,583
---------------------------------------------------------------------------------------------------------------------------------
Royal Dutch Pete Co. Common 78025780-4 26 500 Shares Shared 500
---------------------------------------------------------------------------------------------------------------------------------
SBC Communications Inc. Common 78387G10-3 1,408 58,066 Shares Sole 53,872 4,194
---------------------------------------------------------------------------------------------------------------------------------
SBC Communications Inc. Common 78387G10-3 300 12,360 Shares Shared 12,360
---------------------------------------------------------------------------------------------------------------------------------
St. Paul Travelers Co. Common 79286010-8 2,424 59,784 Shares Sole 59,784
---------------------------------------------------------------------------------------------------------------------------------
St. Paul Travelers Co. Common 79286010-8 9 231 Shares Shared 231
---------------------------------------------------------------------------------------------------------------------------------
Sara Lee Corp. Common 80311110-3 1,335 58,051 Shares Sole 58,051
---------------------------------------------------------------------------------------------------------------------------------
Sara Lee Corp. Common 80311110-3 520 22,612 Shares Shared 22,612
---------------------------------------------------------------------------------------------------------------------------------
Schering Plough Corp. Common 80660510-1 812 43,962 Shares Sole 43,962
---------------------------------------------------------------------------------------------------------------------------------
Schlumberger Ltd. Common 80685710-8 350 5,514 Shares Sole 5,514
---------------------------------------------------------------------------------------------------------------------------------
Schlumberger Ltd. Common 80685710-8 32 500 Shares Shared 500
---------------------------------------------------------------------------------------------------------------------------------
Sky Finl Group Inc. Common 83080P10-3 284 11,466 Shares Sole 11,466
---------------------------------------------------------------------------------------------------------------------------------
Snap-On Inc. Common 83303410-1 576 17,175 Shares Sole 17,175
---------------------------------------------------------------------------------------------------------------------------------
Snap-On Inc. Common 83303410-1 60 1,800 Shares Shared 1,800
---------------------------------------------------------------------------------------------------------------------------------
Southern Co. Common 84258710-7 2,094 71,846 Shares Sole 69,046 2,800
---------------------------------------------------------------------------------------------------------------------------------
Southern Co. Common 84258710-7 26 876 Shares Shared 600 276
---------------------------------------------------------------------------------------------------------------------------------
Staples Inc. Common 85503010-2 2,170 73,800 Shares Sole 73,800
---------------------------------------------------------------------------------------------------------------------------------
Staples Inc. Common 85503010-2 64 2,175 Shares Shared 1,675 500
---------------------------------------------------------------------------------------------------------------------------------
State Street Corp. Common 85747710-3 227 4,625 Shares Sole 4,625
---------------------------------------------------------------------------------------------------------------------------------
State Street Corp. Common 85747710-3 18 375 Shares Shared 375
---------------------------------------------------------------------------------------------------------------------------------
Stryker Corp. Common 86366710-1 2,122 38,574 Shares Sole 38,574
---------------------------------------------------------------------------------------------------------------------------------
Stryker Corp. Common 86366710-1 165 3,000 Shares Shared 3,000
---------------------------------------------------------------------------------------------------------------------------------
Sun Life Finl Inc. Canada Common 86679610-5 243 8,407 Shares Sole 8,407
---------------------------------------------------------------------------------------------------------------------------------
Page 12 of 14
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
--------------------------- -------------- --------- -------- -------------------- ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------- -------------- --------- -------- ------- --- ---- ---------- -------- ------- ------ ----
Sun Life Final Inc. Canada Common 86679610-5 52 1,797 Shares Shared 1,797
---------------------------------------------------------------------------------------------------------------------------------
Sysco Corp. Common 87182910-7 225 6,260 Shares Sole 6,260
---------------------------------------------------------------------------------------------------------------------------------
Sysco Corp. Common 87182910-7 109 3,025 Shares Shared 3,025
---------------------------------------------------------------------------------------------------------------------------------
Teco Energy Inc. Common 87237510-0 192 16,000 Shares Sole 16,000
---------------------------------------------------------------------------------------------------------------------------------
Target Corp. Common 87612E10-6 3,509 82,625 Shares Sole 78,775 3,850
---------------------------------------------------------------------------------------------------------------------------------
Target Corp. Common 87612E10-6 289 6,800 Shares Shared 4,400 2,400
---------------------------------------------------------------------------------------------------------------------------------
Teva Pharmaceutical Inds. Common 88162420-9 1,101 16,395 Shares Sole 16,395
---------------------------------------------------------------------------------------------------------------------------------
Teva Pharmaceutical Inds. Common 88162420-9 118 1,760 Shares Shared 1,760
---------------------------------------------------------------------------------------------------------------------------------
Texas Instruments Common 88250810-4 1,976 81,700 Shares Sole 76,700 5,000
---------------------------------------------------------------------------------------------------------------------------------
Texas Instruments Common 88350810-4 24 1,000 Shares Shared 1,000
---------------------------------------------------------------------------------------------------------------------------------
3M Co. Common 88579Y10-1 1,203 13,360 Shares Sole 12,400 960
---------------------------------------------------------------------------------------------------------------------------------
3M Co. Common 88579Y10-1 720 8,000 Shares Shared 8,000
---------------------------------------------------------------------------------------------------------------------------------
Torchmark Corp. Common 89102710-4 520 9,659 Shares Sole 9,659
---------------------------------------------------------------------------------------------------------------------------------
Torchmark Corp. Common 89102710-4 175 3,260 Shares Shared 3,260
---------------------------------------------------------------------------------------------------------------------------------
U S Bancorp Del Common 90297330-4 1,598 57,985 Shares Sole 57,985
---------------------------------------------------------------------------------------------------------------------------------
U S Bancorp Del Common 90297330-4 61 2,230 Shares Shared 1,750 480
---------------------------------------------------------------------------------------------------------------------------------
Union Pac Corp. Common 90781810-8 256 4,300 Shares Sole 4,300
---------------------------------------------------------------------------------------------------------------------------------
Union Pac Corp. Common 90781810-8 48 800 Shares Shared 800
---------------------------------------------------------------------------------------------------------------------------------
United Bancorp Inc. MI Common 90944L10-3 435 6,901 Shares Sole 6,901
---------------------------------------------------------------------------------------------------------------------------------
United Technologies Corp. Common 91301710-9 2,928 32,005 Shares Sole 30,805 1,200
---------------------------------------------------------------------------------------------------------------------------------
United Technologies Corp. Common 91301710-9 37 400 Shares Shared 400
---------------------------------------------------------------------------------------------------------------------------------
Verizon Communications Common 92343V10-4 1,531 42,313 Shares Sole 37,637 4,676
---------------------------------------------------------------------------------------------------------------------------------
Verizon Communications Common 92343V10-4 166 4,582 Shares Shared 2,530 244 1,808
---------------------------------------------------------------------------------------------------------------------------------
Viewcast Com Inc. Common 92671310-8 7 20,000 Shares Sole 20,000
---------------------------------------------------------------------------------------------------------------------------------
Page 13 of 14
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
--------------------------- -------------- --------- -------- -------------------- ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------- -------------- --------- -------- ------- --- ---- ---------- -------- ------- ------ ----
Vodafone Group PLC Common 92857W10-0 799 36,162 Shares Sole 36,162
---------------------------------------------------------------------------------------------------------------------------------
Vodafone Group PLC Common 92857W10-0 53 2,400 Shares Shared 2,400
---------------------------------------------------------------------------------------------------------------------------------
Vulcan Materials Co. Common 92916010-9 542 11,400 Shares Sole 11,400
---------------------------------------------------------------------------------------------------------------------------------
Vulcan Materials Co. Common 92916010-9 14 300 Shares Shared 300
---------------------------------------------------------------------------------------------------------------------------------
Wal Mart Stores Inc. Common 93114210-3 3,231 61,239 Shares Sole 59,439 1,800
---------------------------------------------------------------------------------------------------------------------------------
Wal Mart Stores Inc. Common 93114210-3 46 875 Shares Shared 875
---------------------------------------------------------------------------------------------------------------------------------
Walgreen Co. Common 93142210-9 4,734 130,750 Shares Sole 127,450 3,300
---------------------------------------------------------------------------------------------------------------------------------
Walgreen Co. Common 93142210-9 263 7,250 Shares Shared 7,250
---------------------------------------------------------------------------------------------------------------------------------
Washington Mutual Inc. Common 93932210-3 844 21,850 Shares Sole 21,850
---------------------------------------------------------------------------------------------------------------------------------
Washington Mutual Inc. Common 93932210-3 43 1,100 Shares Shared 1,100
---------------------------------------------------------------------------------------------------------------------------------
Wellpoint Health Networks Common 94973H10-8 1,367 12,200 Shares Sole 10,700 1,500
---------------------------------------------------------------------------------------------------------------------------------
Wells Fargo & Co. Common 94974610-1 4,305 75,226 Shares Sole 72,376 2,850
---------------------------------------------------------------------------------------------------------------------------------
Wells Fargo & Co. Common 94974610-1 189 3,300 Shares Shared 3,050 250
---------------------------------------------------------------------------------------------------------------------------------
Weyerhaeuser Co. Common 96216610-4 265 4,200 Shares Sole 4,200
---------------------------------------------------------------------------------------------------------------------------------
Weyerhaeuser Co. Common 96216610-4 19 300 Shares Shared 300
---------------------------------------------------------------------------------------------------------------------------------
Whirlpool Corp. Common 96332010-6 469 6,842 Shares Sole 6,842
---------------------------------------------------------------------------------------------------------------------------------
Whirlpool Corp. Common 96332010-6 7 100 Shares Shared 100
---------------------------------------------------------------------------------------------------------------------------------
Wyeth Common 98302410-0 2,319 64,130 Shares Sole 63,130 1,000
---------------------------------------------------------------------------------------------------------------------------------
Wyeth Common 98302410-0 171 4,740 Shares Shared 2,000 1,000 1,740
---------------------------------------------------------------------------------------------------------------------------------
Yum Brands Inc. Common 98849810-1 208 5,588 Shares Sole 5,588
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
TOTAL 496,187 12,395,061
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Page 14 of 14