July 1, 2010
In a letter to you last fall, we informed you that Mother Lode Bank would be embarking on a number of initiatives to strengthen the bank for the future. One element of our plan was to raise additional capital.
On behalf of the Board of Directors, we are pleased to inform you that our capital offering was completed as of June 30, 2010 and raised $2.9 million in additional capital – money that will help us continue to remain a strong partner for businesses and families in our community.
We are very pleased to have been able to raise this amount of capital in these challenging economic times. We are especially gratified that over 90% of the new capital was provided by local investors.
As a community bank, one of our primary missions is to support our local businesses and economy. Our investors are committed not only to Mother Lode Bank’s success, but to the economic success of our community.
Our management and employees continue to aggressively manage all aspects of our business including expenses and loan portfolio. We are committed to profitable operations with a relentless focus on driving our business and marketing plans to better serve our clients and shareholders.
As always, we’d like to thank you for your support as shareholders of Mother Lode Bank. Should you have any questions on our progress, please don’t hesitate to contact either of us. We look forward to seeing you soon.
We are Local…and Simply a Better Bank!