WSBA Western Sierra Bancorp (MM)

Nehemiah Community Reinvestment Fund Announces $100,000 Investment from Western Sierra Bank Funds to Further Expand Affordable Housing, Community Facilities and Economic Development Projects in Northern and Central California SACRAMENTO, Calif., March 4 /PRNewswire-FirstCall/ -- Nehemiah Community Reinvestment Fund ("NCRF"), the nonprofit community development lending affiliate of Nehemiah Corporation of America, today announced that Western Sierra Bank, a subsidiary of Western Sierra Bancorp (NASDAQ:WSBA), has invested $100,000 in NCRF. Western Sierra Bank's investment will be used to make loans for affordable housing, community facilities and economic development in Northern and Central California, including Contra Costa, Sacramento, Placer, Sutter, El Dorado, San Joaquin, Stanislaus, Tuolumne, Calaveras, Amador and Lake Counties. Earlier this year Western Sierra Bank made an additional $100,000 grant to support and expand Nehemiah's homeownership education services. "Nehemiah created NCRF to provide essential funding for community organizations that are making a real difference here in our neighborhoods and across the country. We are grateful for Western Sierra Bank's continued financial support to help us fulfill this mission," said Scott Syphax, president and chief executive officer of Nehemiah Corporation of America. "Regionally-focused affordable housing and community development programs are vital components to comprehensive community revitalization. As we remain committed to serving the broad range of housing needs of area residents across the country and especially here in Northern and Central California, we are proud to lead the charge with Western Sierra Bank as a partner." Nehemiah Corporation of America, the nation's leading privately-funded nonprofit provider of down payment gift assistance, founded NCRF in 1999 to make loans and equity investments in community development projects in California. In 2003, the fund's mission expanded nationally, targeting community and faith-based nonprofit organizations developing affordable housing -- including workforce, transitional and special needs housing -- community facilities such as nonprofit offices, senior centers and childcare centers, and economic development projects in low-income and underserved communities. Western Sierra Bank's $100,000 investment has a 5-year term and has been designated to specifically target affordable housing, community facilities and economic development projects. "Western Sierra Bank is pleased to support the Nehemiah Community Reinvestment Fund's growing programs in Northern and Central California. We remain dedicated to financing these essential community investment initiatives that help local families and businesses," said Kirk N. Dowdell, president and chief executive officer of Western Sierra Bank. "Following our recent grant made in support of Nehemiah's homeownership education services and down payment assistance program, this investment in NCRF reaffirms Western Sierra Bank's ongoing commitment to Nehemiah as we work together to improve the communities in our region." NCRF's housing loans finance all phases of affordable and workforce housing development from feasibility studies and land purchase, to construction and short-term permanent financing. A wide variety of projects are eligible including rental housing, senior residences, single room occupancy units, housing for people with special needs and the formerly homeless as well as ownership housing. Community facilities loans support a wide range of faith-based organizations and essential human service agencies, including churches, providers of child care, health care, employment training, substance abuse and AIDS services, senior services and educational facilities. Over the next three years, NCRF expects to make loans totaling nearly $13 million for community development projects worth in excess of $40 million. About Nehemiah Corporation of America Founded in 1994, Nehemiah Corporation of America, http://www.nehemiahcorp.org/ , is a Sacramento-based nonprofit organization committed to empowering lives and enriching communities nationwide. Nehemiah transforms lives by increasing homeownership opportunities for diverse populations, while maintaining its commitment to successful, responsible homeownership. Nehemiah transforms communities by expanding its faith-based, charitable and community development initiatives into underserved neighborhoods across America. In 1997, Nehemiah launched its flagship program, The Nehemiah Program(R), to provide down payment assistance to homebuyers. To date, Nehemiah has provided over $700 million in down payment assistance gifts, resulting in $23 billion in real estate transactions and has helped over 190,000 families and individuals achieve their dream of homeownership. Committed to comprehensive community reinvestment, Nehemiah has fostered partnerships with Habitat for Humanity, HomeAid America, the U.S. Conference of Mayors and the National Association of Counties. In addition to providing down payment gift assistance, Nehemiah has created other programs that work to revitalize communities including: Nehemiah Community Reinvestment Fund, Nehemiah Community Foundation and Nehemiah Urban Ministry Initiatives. About Western Sierra Bank Western Sierra Bank, http://www.wsnb.com/, opened in January 1984 in Cameron Park, California to respond to the needs of customers and to partner with the communities it serves. Over the last twenty years, Western Sierra Bank has opened twelve branches throughout Sacramento, El Dorado, and Placer counties and assets have grown to over $550 million. Under one umbrella, Western Sierra Bank offers cash management services, commercial loans and lines of credit, commercial real estate loans, consumer lending, retail banking, and mortgage lending. Investment services are available through Western Sierra Financial Services, a subsidiary of Western Sierra Bank. Financial solutions that exceed customer expectations are available at each location in the comfort of a professional living room business environment. The mission today, just as it was 20 years ago is service to their valued friends, customers and communities. Western Sierra Bank is a wholly owned subsidiary of Western Sierra Bancorp, which is comprised of Western Sierra Bank, Central California Bank, Auburn Community Bank, and Lake Community and has assets of $1.2 billion. Western Sierra Bancorp and Gold Country Financial Services, the holding company for Gold Country Bank, headquartered in Marysville, California signed a definitive merger agreement on November 19, 2004. Gold Country Bank will join Western Sierra's alliance of Community Banks and operate as a branch of Western Sierra Bank, the largest subsidiary of the Bancorp. Gold Country will add five additional locations throughout the Marysville and Yuba City markets. The transaction is expected to be completed in April 2005. The company currently operates in 33 locations throughout Central and Northern California. DATASOURCE: Western Sierra Bancorp CONTACT: Loren Riegelhaupt of Sloane & Company, +1-212-446-1871, or ; or Kirk N. Dowdell, President and CEO of Western Sierra Bank, +1-530-677-5600 Web site: http://www.nehemiahcorp.org/ Web site: http://www.westernsierrabancorp.com/

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