July 15, 1977

Re: ________________ (In Organization)

Dear M _______________:

Pursuant to your request of July 14, 1977, we are hereby providing written confirmation of the department’s position regarding disclosure of the identity and principal occupation and employment of the Bank’s proposed Chief Executive Officer in the Bank’s Offering Circular.

We regard disclosure of identity of the Bank’ s proposed Chief Executive Officer and of his principal occupation and employment for the past five years (including name and principal business of the corporation with which such occupation or employment was carries on) to be material information concerning the Bank, which must be disclosed to prospective shareholders and therefore included in the Bank’s Offering Circular in connection with the sale of the Bank’s stock.

The disclosure of the above-referenced information would be necessary to enable a prospective shareholder to make an intelligent investment decision.

Should you have any further questions regarding this matter, please contact us.

Very truly yours,

CARL J. SCHMITT Superintendent of Banks



cc: State Banking Department, SF

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