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Charter Bank Promotes Annette O'Connell to Assistant Vice President

Albuquerque, N.M. (06/01/06) Charter Bank announced that Annette O'Connell has been promoted to assistant vice president by the Board of Directors.

Ms. O'Connell has held the position of quality control officer since March 1, 2004. She previously served as an underwriter in the mortgage division and has been with Charter for seven years. Ms. O'Connell began her banking career nearly 30 years ago at Skokie Federal Savings and Loan as a loan officer and underwriter. She later opened the Skokie Mortgage Company in Scottsdale, Arizona. Ms. O'Connell was the quality control officer, operations manager for the mortgage department at ABQ Bank/Albuquerque Federal Savings & Loan. "Annette's expertise of the mortgage process and quality control are assets to Charter Bank," said Glenn Wertheim, President and CEO Charter Bank

About Charter
Locally owned and operated, Charter provides a diverse range of financial services, including retail banking, residential/commercial mortgage and insurance. It combines the capabilities, resources and product range of larger banks with the local decision making, market knowledge and customer service of a community bank.

Founded in 1976, it is the fifth largest financial institution in New Mexico, with assets of over $1billion and six branches in Santa Fe and Albuquerque and lending offices across New Mexico and Idaho. Charter leads the state in residential mortgage approval, funding and servicing. The company is also one of the largest commercial loan originators in New Mexico.

For details, contact:
Susan Millspaugh
1-800-370-3345

www.charterco.com

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