Plaza Bank reported earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the bank's net loss was $793,000, compared to a net loss of $578,000 for the quarter ended September 30, 2008. For the nine months, the net loss was $3,751,000, compared to $1,505,000 for the same period in 2008.

Plaza Bank announced that the Carpenter Community BancFund received approval from the Federal Reserve Bank to complete its planned investment in the Bank. Concurrent with the Fund's investment, the Bank will add three new outside members to its Board of Directors and will appoint several new Executive Management Team members, including Mr. Terry Robinson as Chief Executive Officer and Mr. Gene Galloway as President. Mr. Robinson and Mr. Galloway will also join the Bank's Board of Directors. As a longtime community banker, Terry Robinson joins the Bank as CEO after completing a successful twenty-year career as CEO of the Vintage Bank and North Bay Bancorp. Mr. Gene Galloway is a career southern California banker, with a long professional history in regional banking at California Federal Bank, Crocker National Bank, and Sanwa Bank, California. The Bank is also announced that Mr. Charles Kenny, former Chief Executive Office of Century City-based the Private Bank of California, Mr. Thomas Rogers, veteran Orange County banker and former Irvine Company Treasurer, and Mr. James Jones, a partner of the Fund's general partner, will also be joining the Board of Directors.

First Sound Bank announced that on December 23, 2008 it filed a complaint for declaratory judgment in King County Superior Court. Named as parties to the complaint were Larasco Inc. (the entity from which First Sound Bank purchased its Puget Sound Leasing business in March 2008) and 11 banks: Banner Bank, County Bank Corp., Cowlitz Bank, HSBC Bank, Plaza Bank, Regal Financial Bank, Sovereign Bank, Washington Federal Inc., Wells Fargo Equipment Finance, Bank of the West and Westsound Bank. The case for declaratory judgment was filed in response to concerns expressed by some of the named banks regarding the parties' respective rights and obligations under agreements that the named banks and Larasco Inc. (then known as Puget Sound Leasing Co. Inc.) executed before Puget Sound Leasing Co. Inc./Larasco Inc. sold certain assets to First Sound Bank. First Sound Bank's purpose in filing the action is to establish a single forum in which the rights of the banks, Larasco Inc. and First Sound Bank can be efficiently addressed and resolved. First Sound Bank expects that this action will avoid the need for multiple proceedings and potentially conflicting outcomes and considers it to be the most constructive available means by which to resolve the parties' rights and obligations.