|May 21, 2010 - FOR IMMEDIATE RELEASE:
Lake Oswego, Oregon……..It was announced today by bank officials that The Bank of Oswego intends to soon commence an offering to sell shares of its common stock in a public offering to raise up to $10 million of additional capital.
The local community bank was chartered over five years ago and has grown to nearly $150 million in total assets, serving primarily Lake Oswego businesses and professionals. The bank recently opened a business banking center in Sherwood, Oregon. The new capital will enable the bank to continue its growth strategy and to take advantage of opportunities that may arise within the banking industry.
The shares will be offered for sale at $12.41 per share pursuant to a prospectus filed with regulatory authorities. This offering circular is expected to be available by the end of June.
Dan Heine, President & CEO, commented "We are very pleased that our growth is opening an opportunity for us to share our success with more local investors. The additional capital will allow our bank to continue our asset growth, expand our market share and position us to take advantage of potential opportunities that may present themselves in the future."
Interested investors are asked to contact Dan Heine, President & CEO, at the contact information below.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful. Offers will be made only by means of a prospectus. Investors should read the prospectus carefully before deciding whether to invest.
ABOUT THE BANK OF OSWEGO
The Bank of Oswego, a locally-owned and managed full-service bank, has two full service locations in Lake Oswego and also recently opened The Sherwood Business Banking Center in Sherwood, Oregon. The bank serves businesses, individuals, entrepreneurs, women in business, and the mature market through: complete lending and deposit services; a mobile branch courier service; online banking; complimentary ATM usage; complimentary access to a “community room” for meetings; and an “At Your Service” Concierge, who will provide expertise on local attractions, information about local events, and assistance with special arrangements.
This release contains certain "forward looking statements" about The Bank of Oswego which, to the extent applicable, are intended to be covered by the safe harbor for forward looking statements provided under the Federal securities laws and, regardless of such coverage, you are cautioned about. Forward-looking statements speak only as of the date of this press release. We do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Additional information about The Bank of Oswego, including its products, services, and banking locations, is available at www.bankofoswego.com.