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~ Bank <br />November 5, 2009 <br />Catherine Mehelich <br />Director of Economic Development <br />13065 Orono Parkway <br />Elk River, MN 55330 <br />Dear Catherine: <br />~~~~~ ~~~ N~V ~ b~ <br />ZOgg <br />In April of 2006 we reported an FTE number of 63, which represented 56 full time and 18 part time <br />employees. As of 9-30-09 we have 72.62 FTE's which represents 66 full time and 10 part time <br />employees. <br />Due to the recent economic conditions, we would like to request an extension of two years to reach our <br />original goal. <br />Thank you for your consideration. <br />Sincerely, <br />Patrick H. Dwyer <br />President <br />630 Main Street, Elk River, MN 55330', p) 763-441-1000 f) 763-441-0847 ' www.thebankofelkriver.com <br />