CHICAGO, IL - September 20, 2007 - Depositors looking to place money in a financial institution that provides a safe, competitive rate of return and a positive social impact used to be burdened with the time-consuming and inconvenient deposit process.

Now, thanks to ShoreBank, offering what is believed to be the community development banking industry's first-ever online high yield savings account, the inconvenience is history. Starting today, ShoreBank will enable depositors to make online deposits from a computer desktop into a savings account. ShoreBank will use the deposits to help fuel its ambitious community development and conservation loan origination growth strategy. The strategy includes plans for rescuing more than 10,000 homeowners on Chicago's South and West Sides at risk of foreclosure by helping them to refinance and consolidate debt.

"The ShoreBank online high-yield savings account will streamline the deposit process and provide a more efficient way to manage our banking relationship and account activity while making a greater impact," said Joseph E. Hasten, President and CEO of ShoreBank. "Besides providing depositors with access to a competitive rate of return, it is the vehicle by which the bank will use to raise core deposits to fund mortgage lending and rescue homeowners at the risk of foreclosure as well finance new environmentally-friendly, sustainable development opportunities," added Hasten.

ShoreBank expects the 5.00% APY (Annual Percentage Yield) supported by an advertising spend that is five times larger than any previous campaign in the bank's history to help raise the deposits bank needs to loan more than $200 million for mortgage lending over the next 12 to 18 months, and to provide the financing for energy-efficient and sustainable development opportunities. The bank's new national online advertising campaign, "You Can Do Both," is designed to promote both the social and financial returns of the high-yield online saving account.

"I am excited that it is now easy for me to earn a competitive rate of return while my money is working with an institution like ShoreBank that is committed to financing and developing sustainable homeownership and environmentally-friendly opportunities," said Doug Farr, architect and author, specializing in green design.

To open and gain access to the online high-yield savings account, 24 hours, 7-days a week, or for additional information, visit www.sbk.com. ShoreBank uses a secure account opening and management system, ShoreBank Direct that enables consumers to have their money electronically routed from any checking account directly into the online savings account, thereby eliminating the physical transfer of checks. Once the money is deposited, it can be transferred online by routing to any checking account.

"The combination of a social return and competitive rate of return from the online ShoreBank savings account distinguishes it from other online accounts and makes it easier for more socially-minded investors from to do good while doing good," said Suzanne Muchin, a principal of Return on Inspiration (ROI), a social ventures firm.

Note: The APY is accurate as of Sept. 19, 2007. Rates may change at any time without notice after the account is opened. Fees could reduce the earnings on the account. A minimum balance of $1 is required to open the account and obtain the stated APY.

About ShoreBank:

ShoreBank is a subsidiary of ShoreBank Corporation, America's first and leading community development and environmental bank holding company. It was the first financial institution in the country to provide individuals and businesses in underserved urban neighborhoods with access to the resources that stimulate economic development, reduces energy consumption and catalyzes positive social change. Since its inception in 1973, ShoreBank has invested more than $3 billion in Chicago, Cleveland, and Detroit, and created more than 11,000 jobs for residents and financed the renovation and purchase of more than 49,000 affordable housing residences.

Urban Partnership Bank

Urban Partnership Bank

Urban Partnership Bank is an FDIC-insured, full-service, certified Community Development Financial Institution that was created in August 2010. The certification from the CDFI Fund acknowledges the Urban Partnership Bank mission of serving urban communities, building better lives, vibrant communities, and long term success.

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