Charter Oak Bank Appoints Brad Morrell as Assistant Vice President/Relationship Officer

  Brian Kelly, President and CEO of Charter Oak Bank
(OTCBB: CHOB), is pleased to announce that Brad Morrell has joined Charter
Oak Bank's Napa office as Assistant Vice President/Relationship Officer.
In this position, Morrell will offer customers a variety of commercial and
personal account services.

After 19 years in the medical industry, including the past 12 years as the owner of a Napa Valley medical equipment company, Brad decided to join Charter Oak Bank because of his desire to support the people of Napa through the efforts of a community bank.

"I was amazed to see the level of commitment that the Charter Oak Bank family puts into improving the community as a whole," Morrell stated. "Being a local, and understanding the needs of local citizens and business owners, I truly appreciate the support for the community and level of personal service that Charter Oak Bank provides," he added.

Brian Kelly notes that Brad's lifetime knowledge of and contacts in the Napa Valley, and the depth of his relationship management skills will be a significant addition to Charter Oak Bank.

A 1984 Vintage High School graduate, Morrell received a BA in marketing from the University of San Francisco, and currently lives in Napa with his wife and two children.

About Charter Oak Bank

Charter Oak Bank uses the best technology available to provide benefits for the growth of businesses and to simplify personal banking. Their cash management solutions include ACH origination, remote deposit, lines of credit, and real-time on-line banking. The bank's personal banking products include free on-line bill pay and internet banking, high-interest tiered checking, and free worldwide ATM access for all accounts.

Brian Kelly President and CEO [phone] Email Contact