Press Release

SBA Awards CenterBank Preferred Lender Status
Bank Also Approved to Participate in SBAExpress Program

Jacksonville, FL – March 25, 2003 – CenterBank, a community bank focused on the needs of small businesses in Jacksonville, announced today that the U.S. Small Business Administration has admitted the bank into its “Preferred Lender Program”(PLP), as well as its SBAExpress loan program.

Prior to receiving the PLP designation, CenterBank participated in SBA’s Certified Lender Program (CLP). The new Preferred Lender status allows CenterBank to approve and grant SBA-guaranteed loans without prior credit review by the SBA. The result is faster processing and loan approval times for small business customers.

“We are extremely proud to receive this recognition from the SBA. We believe the Preferred Lender designation underscores our commitment to small businesses. Our SBA lending specialists now have the authority to unilaterally approve most SBA guaranteed loans,” said Raymond K. Mason, Jr., Chairman of the Board and President of CenterBank. “Speeding up approval and processing times to better serve our customers is but another step we are taking to provide small businesses with the banking products, services and expertise they need to get started and grow.”

Mason explained that the SBA awards Preferred Lender status primarily based on staff SBA lending experience and the volume of SBA loans produced. To maintain its PLP status, CenterBank will renew its lending authority every two years, and allow the SBA to periodically examine the bank’s SBA loan portfolio. With CenterBank’s acceptance into the SBA’s Preferred Lender Program, there are now two PLP lenders based in Duval County.

SBAExpress Program

According to Greg Bossow, Vice President SBA Lending, the SBAExpress loan program will increase the efficiency and streamline the process of making SBA guaranteed loans of $250,000 or less. “Our participation in SBAExpress will help our customers by reducing the complexity of the application process and further expediting processing times. CenterBank is proud to be the only locally based bank to offer this specialized service to small business customers,” said Bossow.

About CenterBank of Jacksonville
The employee-owned CenterBank is the region's only community bank focused on serving small businesses, which make up 94 percent of the Jacksonville area economy. Since CenterBank opened its doors in August 2001, the bank has grown to $70 million in assets - showing clearly the need for a bank focused on providing small business owners with the resources they need to succeed. CenterBank is located in San Marco at 1325 Hendricks Avenue. To learn more, contact Greg Bossow or Angela Johnson at the bank at 904-348-3100 or visit www.centerbankjax.com.

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