It’s been a hot summer this year and I don’t just mean the weather. Since opening our doors in May 2007, Pioneer Bank has now grown to almost $75 million in total assets. Now that’s hot! Thanks to our customers support and the community of Dripping Springs, Pioneer Bank reached profitability in January and has remained profitable each month in 2009. This is an especially hot topic when you consider the fact that so many banks nationwide are struggling and even closing their doors. I would also like to thank those investors who helped us complete a successful second round capital raise in the second quarter of 2009.

I want our customers to know that the future of Pioneer Bank is bright and we have been working on several projects to make sure we are still the bank of choice in Central Texas. First, because we have been so successful we have decided that it’s about time we upgrade our website, so be watching for that in the next couple of months. I am also excited to announce that we will be rolling out several new products designed to reward you for banking with us which we will be launching with the new website. Finally, with all of the success we have experienced in Dripping Springs we have set our sights on expanding into the San Marcos market, and we hope to open a branch there by the end of the year or early 2010.

If it weren’t for our wonderful customers and our exceptional employees we wouldn’t be the successful bank that we are today so I just want to thank you all again for your hard work and support. God bless you all and we look forward to 2009 continuing to be a prosperous year.

All the best,

Jeffrey A. Wilkinson
President & CEO