A Note from our CEO, Scott Soderberg

Over the course of their lives, older generations, particularly the "Baby Boomers”, have built up a remarkable amount of wealth. Experts call what's coming next "the great wealth transfer." By the year 2048, an estimated $124 trillion in assets will pass from one generation to the next. That shift has already begun, and it will only pick up speed in the years ahead.

We see this every day at the bank. Long-time customers are reflecting on how they'd like to spend the years to come, and many are also thinking about the financial legacy they hope to leave for their families. When those conversations begin, we're here to help. Often that means simply finding ways to organize and streamline accounts, so things stay clear and manageable for everyone. Talking through these matters early can bring real peace of mind—not only for you, but for the loved ones who may one day need to sort out financial affairs--sometimes far sooner than anyone expects.

This moment matters for community banks, too, and we think it's worth being honest about why. Sometimes a family's funds move to heirs who live far from here, or to another type of financial institution. These decisions are often made by heirs who may not know the history behind a parent's or grandparent's long relationship with their local bank. That's worth mentioning because community banking has always been a two-way street. We rely on our customers as much as they rely on us. When deposits stay local, we're able to keep lending to neighbors—to new or established businesses, families buying homes, and folks investing in their futures. Those dollars circulate right here as wages, home improvements, and new construction, growing in value as they move through the community we all share.

There's a good chance you've banked with us for many years. Perhaps your parents or grandparents did, too, working with my grandfather Henning or my dad John during the past century-plus. In so many ways, your family's story and ours have much in common, and together we've accomplished some wonderful things. That shared history is exactly why I

hope you'll feel welcome to include us when you and your family talk about the road ahead. If we've been a trusted part of your important financial decisions over the years, we'd be grateful for the chance to be part of those conversations—and to share with the next generation why our personal customer service makes all the difference.

It may also reassure your family to know that our state-of-the-art digital banking products are consistently bringing on new processes that will continue to enable the full range of banking services into the future. Younger generations are keenly aware that these features allow customers to effectively bank from anywhere. For us, technology has never replaced the personal touch—it simply helps us deliver the attentive, friendly service that has always been our hallmark.

Legacies have a way of weaving together. There is no greater honor for us than the chance to help carry yours forward alongside our own. Thank you, sincerely, for your trust in us.