EXHIBIT 12
HILBURN, CALHOON, HARPER, PRUNISKI & CALHOUN, LTD.
ATTORNEYS AT LAW
| ONE RIVERFRONT PLACE - EIGHTH FLOOR NORTH LITTLE ROCK, ARKANSAS 72114
POST OFFICE BOX 5551 NORTH LITTLE ROCK, ARKANSAS 72119
| TELEPHONE: (501) 372-0110 FACSIMILE: (501) 372-2029
|
October 19, 2017
Board of Directors
Stone Bancshares, Inc.
802 East Main Street
Mountain View, AR 72560
Re:Offering of Stone Bancshares, Inc. Common Stock
Ladies and Gentlemen:
At your request, we have reviewed the draft offering statement including the draft offering circular describing the proposed offer and sale of 1,000,000 shares of Stone Bancshares, Inc. common stock. We have also reviewed the Articles of Incorporation, Bylaws, and resolutions of the Board of Directors of Stone Bancshares, Inc. On the basis of our review, it is our opinion that the common stock as described in the offering statement, when sold, will be legally issued, fully paid and non-assessable.
If you have any questions regarding this opinion, please do not hesitate to contact me.
Sincerely,
John E. Pruniski, III
JEP/bll
