August 1, 2008

My fellow shareholders,

After many months of construction and much anticipation, we have moved into our new headquarters building at 1001 Post Road in Darien and we are now open for business! The building was completed on schedule and on budget. Our new Darien location has all of the banking conveniences that our clients deserve. It is a landmark building that has received universal praise from the community. We have two drive-thru lanes for quick in and out banking and two state-of-the art ATM machines. Catch up on the latest financial news in our comfortable lobby and talk to our staff about our premium rates on CD’s and other banking products and services.

We have completed a long-term lease with David Harvey Jewelers and they will occupy the retail space on the first floor adjacent to our Bank. David Harvey Jewelers will be an excellent retail addition to the Town and will add significantly to the redevelopment of our central business district. As you know, our Bank was a leading proponent in creating the environment for this redevelopment. David Harvey Jewelers is expected to open for business in the fall.

We are in a period of volatile economic times and many financial institutions are facing substantial losses from past lending practices. Some are even threatened with their very existence. As a de novo bank in a very competitive market, we have prudently avoided many of the lending mistakes that have resulted in this market disruption and we are building a sound portfolio for the future. Our focus and our passion are to provide banking and investment products and services to promote local economic growth and to provide commercial and residential mortgage financing to our clients.

Bank solvency and concerns about protecting consumer deposits have been frequent topics in the press recently. As a de novo institution, we addressed this very early by joining a network of banking institutions that provide FDIC insurance protection on CD deposits beyond the typical FDIC limits. The CDARS network, Certificate of Deposit Registry Service, protects customer CDs up to $50 million, fully insured by the FDIC.  Your CD stays at our Bank, helping us grow, and it is fully protected by FDIC insurance. Come in and talk with one of our banking professionals who can walk you through the program - and our rates are highly competitive!

I am pleased to announce that Robert Kettenmann has joined Darien Rowayton Bank as the new President and Chief Operating Officer. He brings to the Bank decades of excellent banking experience. He was a senior executive at both Chase Bank and Dime Savings Bank in New York with an impressive record of building profitable banking operations. Together with our expanded staff of lending professionals, we are planning for significant growth. With your continued help and support, we will establish our Bank, in both Darien and Rowayton, as a responsible and valuable contributor to the community.

We are excited about our new facility. Come in and meet Bob Kettenmann and see our new facility.  It provides us with an excellent location and all of the services that we need to serve you with the highest level of personal service and efficiency. We are planning for a “Grand Opening” in the fall to which all of you will be invited. If you are not already a customer, please stop in and let us show you why we are “The Choice for Smart Money”.  I look forward to seeing you soon.

 Sincerely,

    John M. Bowes                                               

   Chairman & CEO