Text Box: Dear Northwest Commercial Bank Shareholders, The fourth quarter of 2009 produced a breakeven result in profitability. Although there was a lack of growth we believe the results were respectable given the extreme stresses in the economy. On a positive note, a small profit was achieved in December. The new Auburn Branch’s performance provided core deposits that allowed us to replace brokered and most public funds. The rapid deterioration of real estate values and the 9.5% unemployment rate appears to have stabilized this quarter. If this trend continues, the effects on our profitability should be positive. Net interest margins increased from 3.30% in December 2008 to 4.66% in December 2009. This is the highest level attained in several years and should positively impact our financial performance as the economy improves. Your banks liquidity ratios and capital ratios are very strong. As of December 31, 2009 our capital levels were: Tier 1 leverage ratio: 11.34% Tier 1 risk based ratio: 14.42% Total risk based capital: 15.67% Deposits as of December 31, 2009 were $62,750,000 compared to $66,338,000, a 5.4% decrease over December 30, 2008. This decrease included the already anticipated closing of 2 CD’s totaling $7,000,000. Loans, net of reserves, were $60,299,000 compared to 60,318,000, relatively unchanged from December 31, 2008. Assets totaled $74,337,000, compared to $ 74,631,000, 0.40% decrease over December 31, 2008. I am pleased to announce the addition of Roy T Brooks to our board of directors. His prior experience as chairman of Mt Rainier Bank will serve our shareholders well. As always, we thank you for your support. Please continue to refer your friends and neighbors to your bank. Sincerely, Kurt Graff CEO/President