Two Bankmark Clients Capitalize in under Twelve Weeks

NEW YORK--(BUSINESS WIRE)--June 22, 2006
Bankmark would like to congratulate two if its de novo bank clients, Choice Bank (In Organization) from Oshkosh, WI, and Towne Center Bank (In Organization) from Frankfort, IL, who have raised their minimum capital in nine and 11 weeks, respectively, with Choice Bank (IO) exceeding the State record with the most amount of capital raised for a de novo bank.

Keith Pollnow, President & CEO of Choice Bank (IO), said: "We were overwhelmed with the positive response from the Oshkosh investment community. We had anticipated a minimum of 90 days would be required to reach our minimum capitalization level, and we were truly amazed that we achieved a 20% oversubscription in just nine weeks. Our organizer group felt that we had a unique opportunity or window in our market, and the Bankmark formula ensured that our dreams became reality."

Both Choice Bank (IO) and Towne Center Bank (IO) followed the Bankmark program of opening with two locations and several hundred shareholders, thereby increasing exposure and reach out of the gate and decreasing the amount of time it takes to become profitable. Andy Bernhardt, President and CEO of Towne Center Bank (IO) and a veteran of banking, subscribed to the process early on as a means to differentiate the bank from all the other traditional banks in the marketplace.

"Bankmark told us exactly how to execute our capital campaign," said Berhnardt, "including the critical need to have all organizers emotionally and financially invested in equal amounts; to ensure that the organizers can effectively explain the value proposition, and above all, to remember that while every group has dynamics the goal is not to win the argument but to achieve a successful business. These factors played a role in our success, but we were also diligent in our efforts to avoid getting caught up by lazy thinking, such as taking a few big money investors as opposed to several hundred smaller investors, and pushing forward to raise the maximum amount as prescribed by the offering circular rather than stopping right when we reached the minimum."

Bankmark has long been advising its clients to obtain a large number of shareholders by going to the community and sharing the bank's story. The program has ultimately proved successful in every market where it's been utilized, although success rates vary greatly. Projects that subscribed to some elements of the plan typically overcapitalized on their offerings, but not until the fourth or fifth months. Projects that didn't subscribe to the plan, initially or at all, did eventually raise their capital, but not until 8-12 months after the start of their offering. Projects like Choice Bank (IO) and Town Centre Bank (IO), which subscribed wholeheartedly to the plan, raised their capital in under two months.

Bankmark extends its congratulations to two hard-working clients for their commitment to their vision, their organizers and shareholders, and to working the plan. We know they will demonstrate the same commitment to their customers and serve their markets well.