NEWS RELEASE
Harbor Community Bank
Contact: Robin Moorman
Phone: 772-216-9834
E-mail robinmoorman@harborbc.com
Website: www.harborcb.com
Date:
June 15, 2012
FOR IMMEDIATE RELEASE
Florida based Harbor Community Bank Assumes Deposits and Purchase of Assets of
Putnam State Bank in Palatka, FL
(Indiantown, FL--June 15, 2012) – Florida based Harbor Community Bank, a state chartered bank
headquartered in Indiantown, Florida announced today that it has entered into a Purchase and
Assumption Agreement with loss share arrangements with the Federal Deposit Insurance
Corporation (“FDIC”) to purchase substantially all of the assets and to assume all of the deposits
of Putnam State Bank, headquartered in Palatka, FL. The loss share transaction is projected to
maximize returns on the assets covered by keeping them in the private sector and minimize
disruptions for loan customers. Putnam State Bank has 3 offices located in Palatka and St.
Augustine, Florida.
After the close of business on Friday, June 15, 2012, the Florida Office of Financial Regulation
closed Putnam State Bank and the FDIC was named receiver. All Putnam State Bank locations
will reopen on Saturday as branches of Harbor Community Bank at normal banking hours, and
former Putnam State Bank depositors will be able to conduct banking business as usual.
Customers will be able to access their money by writing checks, using ATMs, debit cards or the
Internet. Checks drawn on the bank will continue to be accepted. Loan customers should also
continue to make their payments as usual.
Mike Brown, Sr, Chairman and CEO commented, “We are pleased to welcome Putnam State
Bank customers to the Harbor Community Bank family and want to assure all customers of
Putnam State Bank that all of their deposits are safe and accessible and that they will have the
best financial products and services at their disposal.
As a bank with a long history serving Floridians, we are strongly focused on financial strength
and building relationships with our customers. We say that at Harbor Community Bank it is
“Banking the way it used to be” and our bank is built on the foundations of customer service,
loyalty, community and family. We look forward to getting to know our new customers and the
opportunity to support the communities of Putnam State Bank going forward.”
Putnam State Bank deposit customers will receive a letter providing additional details concerning
their accounts and are encouraged to visit www.harborcb.com or call 386-328-5600 for additional
information.
About Harbor Community Bank:

Chartered in 1960, Harbor Community Bank is a state chartered community bank with
assets of $180+ million operating six full-service retail banking centers in East-Central
Florida including Indiantown, Palm City, Okeechobee, Lakeport, Ft. Pierce and Stuart.

The Bank is managed by the Executive Team from the former Harbor Federal Savings
Bank which operated 45 branches in East-Central Florida.

Harbor Community Bank is one of a handful of Florida Banks that earned a five star
rating by Bauer Financial.
Customers who have questions about today’s transaction can call the FDIC toll free at 1-800-6402631. This number will be operating Friday, June 15th until 9:00 pm EST, Saturday, June 16th
from 9:00 am to 6:00 pm, EST, Sunday, June 17th from Noon to 6:00 pm, EST; Monday, June
18th from 8:00 am to 8:00 pm and thereafter from 9:00 am to 5:00 pm, EST.
Harbor Community Bank was advised by Sandler O’Neill and Partners, L.P.
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