NEW BANK SELECTS BOARD OF DIRECTORS
October 24, 2004 - LAKE OSWEGO, OREGON...The soon-to-be opened new bank in Lake Oswego, The Bank of Oswego, has announced its organizers and initial directors. Following is a summary of the backgrounds and professional experience of the organizer/directors and executive management:

Dan Heine
As Chairman of the Board and Chief Executive Officer, Heine has served the banking industry for 35 years. He has served on the boards of numerous civic organizations and has been accorded several honors throughout his career for his leadership and service to the community, academics and mankind. He is a graduate of Indiana State University, Graduate School of Banking at Rutgers University and serves on The Stonier Banking School faculty at Georgetown University.

Jonathan Harnish
A prominent attorney specializing in labor and employment matters, Harnish is a long time resident of Lake Oswego. He and his wife, Kristi, are active in community affairs having served as co-chairs of the United Way Alexis d’Toqueirlle Society and the Board of Advisors of Pacific Crest Outward Bound School. Mr. Harnish was elected and served twice to the Lake Oswego School Board of Directors and he also serves of the Board of “Friends of the Children”. He is a graduate of Willamette University and the Colorado School of Law, and is a member of the Oregon State Bar.

Michael Diamond
A long-time member of the Lake Oswego community, Diamond is a licensed real estate agent and founder of The Real Estate Investment Group. He has extensive experience in sales and leasing of commercial properties, development of apartments, raw land, commercial and retail office buildings, as well as the redevelopment of properties. A graduate of The University of Oregon, Diamond is active in numerous civic and business associations.

William Firstenburg
Firstenburg has 41 years experience in banking and has been an active and visible leader in banking in the Pacific Northwest. His civic contributions include numerous leadership positions serving youth, healthcare and education groups. He received his B.S. degree in Business from The University of Washington and has also graduated from the Pacific Coast Banking School and the American Institute of Banking.

Chris Shepanek
Shepanek is the owner and operator of 11 Oil Can Henry’s oil change facilities in the Portland/Vancouver metropolitan area. Besides his support Lake Oswego youth programs, he is currently serving on the Board of Directors of Central Catholic High School. A 1982 graduate of The University of California, Berkeley, Shepanek has over 20 years experience in small business and marketing.

Dr. David Regan
Regan is the Senior Medical Director of Northwest Cancer Specialists, Medical Director of U.S. Oncology, and Associate Clinical Professor at The University of Oregon Health Services Center. A graduate of The University of Southern California School of Medicine, he and his wife Suzie are the owners of a popular Lake Oswego restaurant, Tucci’s.

The Bank of Oswego recently received authorization from regulators to commence the sale of stock, and in a little more than 30 days, the bank has raised approximately $9 million and plans to open the bank when it reaches its $12 million target. Fifteen employees have been hired and are currently going through extensive training of the bank’s values, objectives, policies and procedures, team-building and customer service.

The bank will be located at Lake View Village in downtown Lake Oswego. The interior, designed by Sylvia Silva, Design Classics One, is essentially complete. An ATM/Night Depository is currently under construction in the main courtyard near the entrance of the parking garage.

Those interested in becoming shareholders and clients are asked to contact Dan Heine at 503-445-3121 or dheine@bankofoswego.com. The bank will be opened upon completion of its stock sale and final regulatory approval. It will serve the financial needs of community businesses, professionals and individuals through a multi-channel distribution system, to include on-line banking and courier service.