REP21392

• Permit No: M1986165
• IBM Index Class Name: Report
• Doc Date: 8/23/1999
• Doc Name: ANNUAL REPORT
• Permit Index Doc Type: ANNUAL FEE / REPORT
• Media Type: D
• Archive: No

"The Bank Tlea! Makes Things Happen"
July 28, 1999
~~CEIVED
Sandco, lnc.
Attn. John Dillon AUG 2 3 1999
P.O. Box 4440
Durango, CO 81302-4440 ;v ;;~n ~f Minerals ~ Geology
RE: Requirementsof 2CCR 407-1, 407-4 and Rules 4.7(3}

BU NS
NATIONA BANK
MEMBER .D.I.C
We aze pleased to respond to your request to provide our Annual Disclosure Statement for a close of business as
of December 31, 1997 and December 31, 1998 and a certification from our accountant as to the reliability of the
balance sheets of First Place Financial Corporationand subsidiaries,ofwhlch The Burns N clonal Bank is a
subsidiary.
This information is provided in connection with our In•evocable Letters of Credit: 1
Letter of Credit Amount Date Issued Related To Expiration
H11270-5 $ 6,800.00 July 1987 Dalton Pit July 31, 2000
/t11190-5 $ 2,500.00 March 1987 Walker Pit March 7, 2000
N11260-5 $ 2,500.00 July 1987 Willow Bend it July 31, 2000
TOTAL $11,800.00
The total Equity Capital for The Burns National Bank totaled $13,341,000.00 at yeaz e d December 31, 1999
indicating that the Irrevocable Letters of Credit of $11,800.00 aze significantly less than 1 % of Equity Capital.
If you should have any questions please do not hesitate to contact me, or to have the a ency requesting these
documents contact me.
Sincer y ,
o ald A. Corkish
Senior Vice President
RAC/aps
1199 Main Avenue • P. O. Drawer N • Durango, CO 81302-2950 • Phone [phone] • ax [phone]
63 North Pagosa Blvd • Suite 4414 • Pagosa Springs, CO 81147 • Phone [phone] • F [phone]
Home Banking Line [phone] •x(888)324-8690 (toll-flee)
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