Columbia Bank assumes all deposits of Summit Bank General Information and Frequently Asked Questions Summit Bank, headquartered in Burlington, WA was closed on May 20, 2011 by the Washington Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC entered into a purchase and assumption agreement with Columbia Bank, headquartered in Tacoma, Washington, to assume substantially all of the deposits and assets of Summit Bank. Welcome to Columbia Bank Knowing our customers – and knowing them well – has never been more important. We are committed to them and the communities they live in. For us, banking has always been about people. We take pride in knowing our customers and nurturing their success. We’re proud to welcome you to our banking family and are committed to providing you with the very best in banking services. We can also assure you that your money is safe at Columbia Bank. A Strong, Stable and Secure Northwest Community Bank Columbia Bank is a Pacific Northwest regional community bank, headquartered in Tacoma, Washington with a strong network of 88 branches throughout Washington and Oregon (including six branches doing business under the name Bank of Astoria). As of March 31, 2011 Columbia Bank had assets of approximately $4.26 billion. We were recently awarded 3rd place in 2010’s “100 Best Companies to Work For” by Seattle Business Magazine and listed as one of Washington’s Best Workplaces in the Puget Sound Business Journal. Columbia Bank is traded on NASDAQ under the symbol COLB. For additional information, please visit the investor relations page located in the “About Us” section. Your funds are safe with Columbia Bank All deposits were assumed by Columbia Bank with no losses to depositors. Rest assured that your funds continue to be insured through the FDIC to the maximum permitted by law. You may continue to access your funds as you always have. Member FDIC Continue to Bank as Usual All 3 branches of former Summit Bank will reopen as Columbia Bank on Monday, May 23, 2011. We encourage you to use your local branches, ATMs, Debit Cards and Online services as you always have. Please note that you will need to claim ownership of your deposits within the next 18 months. This can be done by performing any of the following: using your debit/ATM card, writing a check, making a deposit or withdrawal (electronically or in person); signing a new signature card or renegotiating the terms of a certificate of deposit account; change of address form; or notifying us in writing. If you have multiple deposit accounts a claim only needs to be made on one of your accounts. What does this change mean for my banking relationship? There are no immediate changes in products, services, or your day‐to‐day dealings with your former Summit Bank accounts or branches. We will continue to keep you informed while we transition through the data conversion process. Up‐to‐date information will always be available in the Welcome Center at www.ColumbiaBank.com. The interest rate on your deposit account will be changing. New rates for your existing interest bearing deposit account(s) and CD(s) will be mailed to you in the coming week. You may withdraw all or any portion of the funds in your deposit account(s) without penalty for early withdrawal until you enter into a new deposit agreement with Columbia Bank. Are my deposits still FDIC insured? Your deposits are insured by the FDIC. Each depositor is insured up to $250,000, to the maximum permitted by law. All funds in a "noninterest‐bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules. The term "noninterest‐bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money‐market deposit accounts. If you have accounts with both Summit Bank and Columbia Bank (including Bank of Astoria), your funds will be insured separately for up to six months. CDs from Summit Bank are separately insured until the earliest maturity date after the end of the six‐month grace period. CDs that mature during the six‐month grace period and are renewed for the same term and in the same dollar amount (either with or without accrued interest) continue to be separately insured until the first maturity date after the six‐month period. Member FDIC If a CD matures during the six‐month grace period and is renewed on any other basis, it would be separately insured only until the end of the six‐month grace period. Will I still be able to use my ATM/Debit card and my checks? You may continue using your Summit Bank checks and ATM/Debit cards. Once the transition process is complete, you will receive Columbia Bank checks automatically the next time you reorder checks at your branch. You will receive a Columbia Bank ATM/Debit card when your current card expires. If we issue a new card prior to your expiration date, we will notify you in advance. What will happen to my direct deposits and automatic withdrawals? Rest assured all direct deposits and automatic withdrawals, including government and social security deposits will continue as usual. If you need to make changes to any direct deposit or withdrawal, please contact or visit your local branch to make those arrangements. How do I access Online Banking and Bill Pay? You may continue to access your accounts online at www.SummitBank‐wa.com for the time being. We will notify you, in advance, of any changes. How will my bank accounts be affected? Your accounts will continue with the same features at this time. Over the coming months your account will convert to a Columbia Bank product. We will notify you in writing if there are any changes regarding the terms of your account. Will my Certificate of Deposit (CD) be affected? Your maturity date on your CDs will remain the same. However, we will be changing the interest rate. New rates for your existing interest bearing deposit account(s) and CD(s) will be mailed to you in the coming week. You may withdraw your CD funds without an early withdrawal penalty until you enter into a new deposit agreement with Columbia Bank. What kinds of changes can I expect in the next few months? We’ll be working to integrate former Summit Bank services to our system. You may begin to receive letters, statements, and notices with both the Columbia Bank name and logo and Summit Bank’s name as we work through the transition. How and where do I make my loan payments? There is no change in how or where you make your loan payments; you should continue to pay as agreed. If your loan payment is made through automatic payment, you should experience no disruption in service. Member FDIC I have a loan in process. How do I know if my loan is approved? Please continue to work with your existing loan officer on any loans in process as well as any existing loans you may have. How do I access the contents of my Safe Deposit Box? You may continue to access the contents of your Safe Deposit Box as you always have. I’m a member of the media. How can I get more information? JoAnne Coy Vice President and Corporate Communications Director 253.305.1965 [email protected] I’m a shareholder, what about my shares of stock? All shares of stock were owned by the holding company, Summit Banking Company, Burlington, Washington. The holding company was not included in the closing of the bank or the resulting receivership. If you are a shareholder of the holding company, please do not contact or file a claim with the Receiver. You must contact the holding company directly for more information: Summit Banking Company 723 Haggen Drive Burlington, WA 98233 I am a deposit broker or I have brokered deposits. What do I need to do? As an All‐Deposits Transfer transaction, the total of all deposit accounts, excluding the Cede & Co deposits, has been assumed by Columbia Bank. If you are a customer who has a Summit Bank deposit through a broker, you must contact your broker with any questions. I am a former vendor of Summit Bank. What do I need to do? Please send claims for unpaid bills to the following address: FDIC as Receiver for Summit Bank 40 Pacifica, Suite 1000 Irvine, CA 92618 ATTN: Claims Agent Or by email to the following address: [email protected] I did not see my question in the Q and A. Please feel free to visit your local branch or contact us at 1.866.233.3100 Member FDIC