First Ottawa Bancshares Inc. engaged Clifton Gunderson LLP to audit the companys 2010 financial statements. The engagement of Clifton Gunderson will result in the dismissal of BKD, LLP as the companys independent registered public accounting firm. The companys change in accounting firms was approved by the Audit/Compliance Committee of its Board of Directors. The companys Board of Directors adopted resolutions approving an amendment to Section 3.2 of the companys By-laws. The amendment clarifies that the mandatory retirement age set forth in Section 3.1 of the By-laws is applicable to the portions of Section 3.2 regarding each directors term of office.

First Ottawa Bancshares Inc. reported unaudited earnings results for the full year ended December 31, 2009. For the period, the company reported net income of $1.8 million, or $2.84 per basic common share, and $2.83 per diluted common share, compared to net income of $1.9 million, or $2.87 per basic common share, and $2.86 per diluted common share, for the year ended December 31, 2008. Net income for 2009 decreased $19,000, or 1.0%, from 2008. Net interest income after provision for loan losses decreased $1.2 million, which was the net result of a $1.2 million increase in the provision for loan losses, a $1.6 million decrease in total interest income, and a $1.6 million decrease in interest expense. The net interest margin on a tax equivalent basis decreased to 3.88% in 2009 from 3.91% in 2008. The primary reason for the decrease in the net interest margin was the result of an increase in non performing assets and a decrease in the market rates earned on assets during the year. The decrease in interest income was attributable to decreases in average tax-equivalent yields available in the marketplace in 2009.

On November 18, 2009, First Ottawa Bancshares Inc.'s Board of Directors approved a cash dividend of $0.62 per share to be paid to all stockholders of record as of December 1, 2009 and to be paid on or about January 1, 2010.

FIRST OTTAWA BANCSHARES INC Files SEC form 8-K, Changes in Registrant's Certifying Accountant, Amendments to Articles

FIRST OTTAWA BANCSHARES INC Files SEC form 10-K, Annual Report

FIRST OTTAWA BANCSHARES INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements a

FIRST OTTAWA BANCSHARES INC Files SEC form 8-K, Change in Directors or Principal Officers

FIRST OTTAWA BANCSHARES INC Files SEC form 8-K, Other Events, Financial Statements and Exhibits

FIRST OTTAWA BANCSHARES INC Files SEC form 10-Q, Quarterly Report

FIRST OTTAWA BANCSHARES INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements a

FIRST OTTAWA BANCSHARES INC Files SEC form 8-K, Other Events, Financial Statements and Exhibits

FIRST OTTAWA BANCSHARES INC Files SEC form 10-Q, Quarterly Report

FIRST OTTAWA BANCSHARES INC Files SEC form 10-Q, Quarterly Report