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Charter Bank Promotes Robert Budagher to Vice President

Albuquerque, N.M. (07/31/06) Charter Bank announced that Robert Budagher has been promoted to vice president by the Board of Directors.

Mr. Budagher joined Charter Bank as a construction loan originator in May of 2003 and was promoted to assistant vice president in January 2004. Previously he held various positions at New Mexico Educators Federal Credit Union, Neatherlin Homes, Financial Processing Services and Sandia Area Federal Credit Union. Previous positions have included construction lending, conventional and FHA mortgage origination, consumer lending, new construction home sales and lending manager. Bob earned a Bachelor's Degree from New Mexico State University in Finance and Real Estate, and services a growing portfolio of significant builder and developer clients for 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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