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June 8, 2005
To Whom It May Concern:
It is my pleasure to recommend Executive Benefits Network (“EBN”) to bankers considering Executive Benefit plans and Bank-Owned Life Insurance (BOLI) policies. EBN specializes in designing plans for community banks, providing monthly updates on purchased policies and periodic e-mail updates about issues affecting BOLI products.
Our organization interviewed and considered several companies before selecting EBN to put BOLI plans in place for our key management personnel. We found the staff at EBN to have thorough knowledge of the bank compliance and regulatory issues as well as the economic benefits of investing this product. We have been very pleased with the results.
EBN staff is very familiar with the Office of the Comptroller of Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”) guidelines and worked diligently on our behalf with our State bank Commissioner to assure our plans complied with every regulatory issue. We were also impressed that EBN staff have authored or been featured in several national publications on Executive Benefit and BOLI plans. They are clearly experts.
The staff at EBN has remained attentive to our needs as well as reliable and thorough in their interactions with First State Bank. Their attention to detail and compassion has truly been impressive so it is without hesitation that I recommend EBN to any bank or banker
Sincerely,
David L. Herndon
President
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