LAKE OSWEGO’S NEW COMMUNITY BANK OPENS FOR BUSINESS
December 3, 2004 - LAKE OSWEGO, OREGON...The Bank of Oswego is set to differentiate itself from other banks through local ownership and management, total emphasis on service, and unique products

A new community bank, The Bank of Oswego, opened on December 3, 2004 after completing a highly successful capital-raising campaign and receiving final regulatory approvals from Federal and State banking agencies. Lake Oswego’s new community bank is located in Lake View Village, at the intersection of A and State in downtown Lake Oswego. Lobby banking hours are 9:00 a.m. to 5:00 p.m. Monday through Friday, and at other times by appointment. Ample parking, 24-hour ATM and night depository are available in the Lake View Village parking garage.

Dan Heine, Co-Founder, Chairman and CEO of The Bank of Oswego, explained that the organizers decided to take a different approach with the new bank because “our research indicated that there was an absence of true community banking with local ownership and decision-making in Lake Oswego. We believe that our community has very distinct needs and preferences that simply were not being met by standard, commodity-type banking services offered by our out-of-state competition. The Bank of Oswego will create a truly satisfying, memorable banking experience unlike any other.

“Differentiating ourselves from the big banks in this market, while providing world-class service at the same time, is very important to us. Our business model has been designed to provide exceptional personal service with local decision-making authority, talented staffing, superior products, a distinct branding image and facility, and state-of-the-art technology,” Heine added.

The Bank of Oswego will focus on serving businesses, individuals, entrepreneurs, women in business, and the mature market through: complete lending and deposit services; a mobile branch courier service; on-line 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.

Local Management and Strong Capital
A local Board of Directors will be responsible for policy formation, financial oversight and business development. The bank organizers and initial directors are: Michael Diamond; William Firstenburg; Jonathan Harnish; Dan Heine, Dr. David Regan; and Chris Shepanek.

The Bank of Oswego will be initially capitalized with nearly $14 million in paid-in capital, which was raised in just 80 days. That total is roughly double the amount that is typically raised by start-up banks nationally in twice the time. “We are elated over our success in raising such a substantial amount of capital in such a short time period. We are deeply appreciative of the strong support from local investors, who have given our new bank a solid financial foundation and substantial lending limit,” Heine said.

A Seasoned Team of Professionals
The staff of The Bank of Oswego offers customers the enormous benefit of having over 250 years of combined experience in financial services.

Distinctive Banking Environment and Product Array
The Bank of Oswego’s interior has been designed by Sylvia Silva, owner of Design Classics, Inc. The fabrics, furnishings and interior décor have been uniquely selected to create a professional, yet warm and customer-friendly environment.

For its debut, The Bank of Oswego is offering attractive pricing for those who open a Money Market Deposit Account with $10,000 or more. In doing so, those same customers will earn an additional 1/2% interest on the stated rate on a 3-, 4- or 5-year Certificate of Deposit.

All persons who visit the bank through March 31, 2005 will be eligible for a drawing. The Bank of Oswego will donate $1,000 in the winning customer’s name to the Lake Oswego School District Foundation or to a charity of the winner’s choice.

“We believe that the Lake Oswego community will appreciate the fact that our new bank is a very attractive alternative to the big bank branches that have had a virtual lock on this marketplace until now. We invite everyone to come and visit us. Our goal is to treat customers far better than other banks do. Each of our employees is empowered to do whatever it takes to satisfy our customers. We really think our neighbors, business owners and friends in Lake Oswego will be pleasantly surprised, or even shocked, to see how a true community bank conducts business,” Heine commented.