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~~' Bank <br />November 16, 2011 <br />City of Elk River <br />Attn: Annie B Deckert <br />13065 Orono Parkway <br />Elk River, MN 55330 <br />Re: Tax Abatement assistance <br />Dear Annie <br />As a follow up to our recent conversation, I wanted to provide you some more details regarding the <br />bank and our outlook for the next two years, in the event that someone from the Bank cannot attend <br />the meeting on Monday. <br />As we discussed, job creation in the next two years for our business is largely dependent on the rate <br />of recovery the Elk River community realizes. We've recently restructured our business to better <br />position for future profitability. With this came reductions to staff and a focus on efficiency. <br />We are now staffed at a low point, so opportunities for growth and increased business will present <br />the potential for new job creation at the Bank. <br />As a community Bank, our successes and struggles mirror those of the businesses and communities <br />we directly serve. We are hopeful that the years to come will be prosperous not only for the Bank, <br />but for the entire Elk River community. Job creation will be a part of that prosperity. <br />Sin !rely, <br />Bill LaVigne ~3 ~~ v <br />Chief Operating Officer <br />630 Main Street, Elk River, MN 55330 ~ P) 763-441-1000 ~ f) 763-441-0847 ! www.thebankofe/kriver.com' MemberFOlc <br />