President Hong

Dear Fellow Customers, Shareholders and Neighbors:

In 1982, visionary leaders of our community founded Innovative Bank. And while their purpose was to unite the people of Oakland, the core mission of the Bank was very simple: provide banking services and access to fair credit for minorities, working women, homebuyers and local businesses. 

The core mission of Management and the Board of Director�s to make the Bank stand alone, be profitable and in compliance with regulatory directives while providing strong value to the community it serves. The Bank is currently engaged in a substantial enhancement of its operations, including (1) molding staff to a core of professionals, (2) streamlining functions to greater efficiency and customer service, (3) enhancing products for depositors big and small, for businesses big and small, and for local commercial firms revitalizing neighborhoods, (4) developing a loan department with highly-qualified loan personnel to offer and administer a greater range of products as well as to provide expert portfolio management, and (5) ensuring that any regulatory and internal governance issues are resolved. And thus, the mission has not changed.

Accordingly, we remain committed to enhancing shareholder value, increasing the efficiency and accountability of our operations and providing better products and services. Moreover, we have pledged ourselves to the work begun at the inception of this bank: fair and equitable access to financial services and loans for women, for minorities, for homebuyers, for small businesses, for our neighbors.

On behalf of the Board of Directors, we thank you for your continued support. And remember, the mission has not changed, nor have we any plans to change it.

Sincerely,

S. Hoon Hong