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<br />1ir <br /> <br />11/15/00 15:57151 :02/03 NO:555 <br /> <br />HERITAGE~BANK <br /> <br />Woodbury City CCl1trt' Commons. 1920 I1oI1E'gill Tm\lt! · WUlldbury, Mbuu:'o;;()t,a 5512<; · (612) 738-2265 · fax (612) 718-7166 <br /> <br />November 15, 2000 <br /> <br />Cathy Bennett <br />City of Roseville <br /> <br />RE: <br /> <br />Integrated Circuit Services, Inc. <br />John Koch <br />Credit Reference <br /> <br />Dear Cathy: <br /> <br />In reply to your request for a credit reference on Integrated Circuit Services, lnc, the <br />tol1owing is information that I believe will be hclpn.l1 to YOll. <br /> <br />1 have been lohn Koch'5 lemier for TCS since;: the beginning in 1994 while I was a lender <br />at Riverside Bunk in Minneapolis. He has been at Herituge Bank since September of <br />1998 and moved over all of his accounts. His checking account has seen increases over <br />the years in average balances and now canies an average balance in the mid 5 figures. <br />He has never been overdrawn and has a curren11ine of credit of $400,000 with $343,000 <br />owing. We have a letter of intent out to ICS 1u increase their line of credit to $1 m1llion <br />upon injecting $1 + million into the company. They are currently working on this <br />arrangement. <br /> <br />ICS also has 3 SBA tenn loans with H~ritagt:: National Bank. Two of the loans were <br />done while .1 was at Riverside Bank and were transferred to Heritage Bank in October of <br />1998. The folluwing summarizes tlu:: three loans: <br /> <br /> Principal Monthly <br />Loan # Date OWlng Payments Maturity Dale <br />22900 10/07/98 $150,435 $4,527.02 1/25/04 <br />22901 I 0/08/98 $193,606 $5,191.91 7/18/04 <br />22902 10/08/98 $47,479 $4,949.85 7/14/0 1 <br /> <br />All the payments on the loans have heen made as agreed. <br /> <br />INDF.I'F.NDENT AND LOCALLY OWNED SINCE Iql 1.1 . MEM'jfif( 1'1)1(: <br /> <br />