tes Spring, 2006 ra in! od a e ar go ck ag Th e ba BANK BUZZ from Gilmore Bank New ideas, old-fashioned service since 1955. GIVE YOURSELF A RAISE! EARN BIG WITH A MONEY MARKET ACCOUNT OR SHORT-TERM CD! Up to 4.60% APY on a Gilmore Bank Money Market Account! And it’s tiered to reward higher balances with a close-to- CD rate, for both individuals and businesses. Good place to “park” funds in safety, between other investments. Limited access. To open an account call us or visit us, or apply online at www.gilmorebank.com. 4.90% APY on a 6-month CD, 5.20% APY on a 9-month CD now! CDs are simple, safe investments to meet your personal or business goals. $10,000 minimum. Funds must be new to Gilmore Bank and you must have a Gilmore Bank Checking Account. To open an account call us or visit us or apply online at www.gilmorebank.com. Money Market Accounts CDs ($10,000 minimum) Balance Rate Term Rate $500,000 + 4.60% APY* 6 month 4.90% APY* $250,000 - $499,999 4.35% APY* 9 month 5.20% APY* *APY=Annual Percentage Yield. Rates effective May 1, 2006. Limited time offer. Rates subject to change without notice. www.gilmorebank.com No Plan “B” for California’s A message from Our new Westlake Village budget crisis. So, what next? our President. Loan Center to open in May. Courtesy of The UCLA Anderson Forecast. This is a landmark event for Gilmore In the late 1990s under Governor Gray Bank! As you know we’ve had one central Davis, remarkable revenues were office in mid-town Los Angeles for over accruing to the state, due in large part 50 years. to stock market gains. Even so, California was running a small budget Now, we are scheduled to open the doors deficit. Still, the fiscal dilemma was never of our new Westlake Village Loan Center resolved despite an economic recovery. Douglas C. Spencer in May, at 4035 East Thousand Oaks President and CEO Boulevard, Suite 128, corner of Westlake In his final year, Governor Davis Boulevard. proposed the borrowing solution that How many years has it been since you’ve was later adopted by his successor, seen interest rates on CDs and money Gilmore Bank has long wanted a Arnold Schwarzenegger. market accounts as attractive as the ones presence in this beautiful, upscale featured on our front page? community. And now, we send it our The budget deficit issue morphed into very best – three top-flight lending a special election in November 2005. CDs are the simple, bread-and-butter professionals. Vice President and Four initiatives favored by the governor savings accounts that say “sleep well”, Regional Manager, Jim Friend; Vice were put on the ballot. All were defeated. knowing your money is safe, and that President for Construction Loans Greg your interest earnings are guaranteed. Thomas; and Ali Nayebdadash, Loan The UCLA Anderson Forecast is not Then, great rates like these are icing on Officer. projecting a recession at this time. But the cake. California has had a recession at least Our Loan Center will be serving once a decade. We do view the housing Money market accounts are versatile, residents and businesses, not only in market as a bubble situation. And even safe harbors for your funds between Westlake Village but in Thousand Oaks, if the bubble bursts gently, there will major investments. They offer you Moorpark, Agoura Hills and the entire likely be some falloff of state sales tax limited access to funds and they may be Conejo and Simi Valley areas. Featured and income tax collections. a very timely choice for you today. will be business loans, real estate loans, The sad fact is that there is no Plan B for Take a look around and compare commercial and construction loans, and California’s budget. And Plan A – a Gilmore Bank’s CD rates to those of multi-family dwelling loans. deficit in the General Fund and other institutions, including giant banks borrowing for infrastructure – is fiscally from who-knows-where. And enjoy the irresponsible. good feeling of having solid, insured investments growing nicely in a friendly, During the budget crisis of the early established community bank like 1990s the state did run out of cash and Gilmore Bank. started paying its bills with “warrants” Vice President and (IOUs). Banks began to warn that they Regional Manager Why the $1 “Susies” bombed. Some would not continue accepting such years ago, the Susan B. Anthony dollar Jim Friend IOUs. In effect, the financial markets was introduced. People took an instant forced a resolution. dislike to them because of their similarity Perhaps we will need to await similar to quarters in size and color. At one time events before the fiscal dilemma of the the Fed had one room that held 334 2000s is resolved. million orphan Susies. Ooops! Vice President Rates as low as: Construction Lending Deduct 1/4% from auto loan rates with automatic Greg Thomas payment from Gilmore Bank checking account. New ideas, old-fashioned service since 1955. APR* Business Loans Call for information Main Office Construction Loans Call for low rates Personal Loans 10.75% 110 South Fairfax Avenue Home Equity Lines of Credit*** WSJ Prime Los Angeles, California 90036 Home Equity Loans Call for low rates 877-549-2100 New Auto - or used, to 4 years old** 7.75% Used Auto - up to 6 years old** 8.75% Mon - Thur 9-5 • Fri 9-6 www.gilmorebank.com Loan Officer Used Auto - up to 10 years old** 9.25% EQUAL HOUSING LENDER Ali Nayebdadash *APR - Annual Percentage Rate. For further information, rates and conditions, please consult a Gilmore Bank representative. All loans subject to approval. Rates are accurate as of May 1, 2006 and are subject to change anytime. www.gilmorebank.com ** Some restrictions apply. *** For loans of $250,000 and under.
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