CEO Bob Washburn Letter - Deposit Security

We're Focused On Safety and Soundness

Dear Customer,

We know many of you are following the news regarding Silicon Valley Bank (CA) and Signature Bank (NY) and the concurrent response from federal and state regulators.

While we cannot comment on the specific challenges at these institutions, we wanted to assure you that our risk practices and industry exposures starkly contrast these two institutions.

We are a community bank focusing on small businesses and diverse industries within the communities we serve. We have always prioritized safety and soundness, profitability, and growth in that order. We were chartered 84 years ago and expect to serve this community for generations to come.

Our risk management processes have resulted in strong capital and liquidity positions, allowing us to continue serving all current and prospective customers. As a community bank, we take pride in our relationship-based business model focused on building long-term customer trust. After all, we live in your community too, and your success is our success.

If you know a business owner or individual affected by this unfortunate situation, please let them know that we are here to help. Nobody has ever lost a dime of FDIC-insured deposits up to $250,000. For those customers who have questions about whether additional insurance coverage is needed, we are ready and prepared to assist you in identifying whether additional insurance coverage is necessary and ensuring your deposit needs are met.

We will remain vigilant as your community partner to changing market conditions and economic developments. We encourage you to reach out if you have any questions about how these events affect your deposits or any facet of our ongoing relationship.

Sincerely,

Robert E. Washburn,

President and Chief Executive Officer