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AU~ 0~ '95 01:~6 RANDAL~ DEHNGOODRICM <br /> <br />P,4/4 <br /> <br /> Northeast <br />'~.,~ State Bank <br /> <br />Community Bank <br /> <br />June 30, 1995 <br /> <br />Mr. William Goodrich <br />Randall, Dehn & Goodrich <br />2140 Fourth Avenue North <br />A~oka, MN S5303 <br /> <br />1'/I'lm~dwa¥ N.(:. <br />617-.'t ?fl.fi}'l! 1 <br /> <br />Dear Mr. Goodrich: <br /> <br />I am writing to you regarding a conversation I had this morning <br />with Glen Hardin about relationships that may exist between <br />Northeast State Bank and the City of Ramsey and the potential <br />conflict of interest created from those relationships. <br /> <br />At the present time, there are no depository relationships <br />between the City of Ramsey and Northeast State Bank. Also, to <br />the best of my knowledge, there never have existed any depository <br />relationships between the City of Ramsey and Northeast State <br />Bank. <br /> <br />Glen also mentioned a concern about the Investment Centers. <br />Investment Centers Group, Znc. is a Bismarck, North Dakota <br />corporation that leases space in the lobby of our Coon Rapids <br />office. Northeast State Bank and its employees derive no direct <br />financial benefit from the Investment Centers other than rental <br />income. <br /> <br />If you should have any questions, please feel free to call me at <br />562-3227. <br /> <br /> Sincerelv~ <br /> <br />~--Th~)mas M. Beck <br /> <br />Executive Vice President <br /> <br />TMB5630i/cjm <br /> <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> i <br /> I <br /> I <br /> I <br />I <br />I <br />I <br />I <br />I <br /> <br /> <br />