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FREMONT, California - August 29, 2006 - Fremont Bank continues its tradition of being one of the first in the California banking industry to offer its clients new financial products. The latest addition to Fremont Bank's portfolio, insurance premium financing, makes purchasing costly property-casualty insurance easier. This product is designed to aid the bank's clients in financing their annual insurance cost.

Currently, many business owners, particularly those in high risk businesses can only afford to purchase insurance by financing the annual premiums. Although there are many finance companies that offer this service, Fremont Bank may possibly be the sole bank in California, and one of only a few banks in the country to offer this product.

Excess and surplus line insurance carriers don't typically finance, and often want payment immediately, business owners are out of pocket what, in some cases, is a substantial amount.

Many businesses can only afford to purchase insurance through the aid of financing. Generally financing is provided in one-year increments allowing the insurance agent to sell a policy with a lower down payment as well as lower monthly payments.

James Smith, an attorney with Squire, Sanders & Dempsey LLP, who represents many clients in the Silicon Valley on intellectual, trademark and patent matters, says, "If someone wants to go out and get insurance, the premiums can be astronomical."

After receiving numerous requests from its commercial clients and commercial insurance brokers for a premium financing product, Fremont Bank has entered into the market with a product that provides exceptional benefits to both the insured and the agent or broker.

"As a proven community leader in business and personal banking, we are proud to introduce a new lending product designed to assist our clients with help in financing their annual commercial premiums," said Business Development Officer Mike Nicholson. "We are committed to developing programs that grow with the needs of our clients. This addition to the bank's portfolio provides a tremendous opportunity for insurance agents and brokers to offer their clients a better deal."

Fremont Bank Director of Financial Services says, "This is important because owners of certain types of industries with high property insurance would prefer not to put out all their cash at one time."

Using Fremont Bank's premium financing, the insurance agent remains the only agent of the insured and is the only agent discussing the insurance policy or needs with the insured. The agent continues to sell the insured other insurance products, but the bank handles the financing of the policy.

"Most commercial policies qualify for financing with the exception of workers compensation," says Nicholson.

There are many benefits for the insured to use this newly offered product including no lump-sum payments. Coverage is paid in monthly installments after the initial down payment. Financing premiums preserves capital, allowing clients to control their own cash flow by amortizing payments over the year. Insurance offered through this type of financing is often more affordable because it enables the client to take advantage of some of the most competitive rates available. And the finance plans are tailored for the client's individual needs, making this program even more attractive.

The insurance agent or broker also receives many benefits through the finance program. Not only are they able to collect their commission immediately, but the program also enhances their business renewal and new business growth. Revenue sharing and producer fees can add to the total compensation the broker may receive for originating a policy.

The Fremont Bank insurance premium financing product is easy to use. The software is internet based, allowing the quoting and preparation of finance agreements with only a few mouse clicks. Insured and policy data are automatically imported into the premium finance agreement, eliminating repetitive input.

Funding is also a snap. In addition to the normal bank check, other funding options include electronic transfers or wires for qualifying agencies. Funding can occur within 24 hours and for some special cases, within the same day.

About Fremont Bank
Fremont Bank and its divisions are committed to providing its communities with high-quality, personalized banking services in convenient neighborhood locations. Fremont Bank has built a reputation as one of the most progressive community banks in California.

Fremont Bank was founded in 1964 on the cornerstone value that continues to fuel its success today: fast, friendly, honest service. Customers can still count on receiving this exceptional level of service - a rarity in today's marketplace. For more information, call (800) 743-INFO.

Press Contacts:
Laura Owen
Public Relations, Fremont Bank
Phone: (800) 743-INFO
Email: PublicRelations@fremontbank.com