Got E-mail from CEO Anita:
On Mon, 5/7/12, Anita Robinson <arobinson@coastnationalbank.com> wrote:
From: Anita Robinson <arobinson@coastnationalbank.com>
Subject: Shareholder Communications
To: "missionary168@yahoo.com" <missionary168@yahoo.com>
Cc: "Jim Kaney" <jkaney@coastnationalbank.com>
Date: Monday, May 7, 2012, 9:47 PM
Hello Mr. Mesa:
As you know, I am the new CEO of Coast National Bank and Coast Bancorp. Mr. Kaney forwarded your communication to me and I thought I would briefly address a couple of your points or requests.
Yes, we have not been proactive in the communication with our shareholders in recent times. I am working on a communication as we speak which I hope to be out in the next week, depending on the ability of the securities holders (street name) to get them out timely.
We will be upgrading our website to include more information, but that will not likely be until 3rd quarter.
Our annual shareholder’s meeting will be later this year, to allow us more time to prepare a thorough report to the investors. With my short time with the bank, we felt it would be better timing to have the meeting in September instead of June.
Most of our shareholders are local to the county of San Luis Obispo and a little more familiar with the bank activities. As our shares become more broadly owned, it will be important for the board and management to commit to a more frequent communication with the investors. I am curious how you became an investor of Coast and how you heard about us.
As to a strategy to compete with” Mission”, there are of course many. But at this time we are most focused on removal of the regulatory consent order and raising additional capital. As you know, there are many competing community banks in the market and it is prudent to be in a position to compete with all of them.
I do appreciate your questions and comments and you are welcome to contact either myself or Mr. Kaney if you should have any further questions. Thank you for your continued support of the bank and we look forward to some promising years to come.
Sincerely,
Anita M. Robinson
Chief Executive Officer
Coast National Bank
500 Marsh Street
San Luis Obispo, CA 93401
(805) 547-6135 Direct #
(805) 781-3182 Fax #
(805) 550-6962 Cell#
arobinson@coastnationalbank.com
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