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  • baronkimble Apr 27, 2010 3:32 PM Flag

    CEO denies rumors, FDIC repo pending



    Frontier Financial Corporation Denies Acquisition Rumors

    EVERETT, WA -- (MARKETWIRE) -- 04/27/10 --

    Management of Frontier Financial Corporation (NASDAQ: FTBK) ("Frontier")
    recently learned of rumors on the Internet on April 26, 2010, that an
    investment group called Infinite Freedom Foundation was in the process of
    making a bid for Frontier. Frontier's president and chief executive officer,
    Patrick M. Fahey, said that while normally he would not as a matter of company
    policy comment on rumors, given the recent speculation on the Internet and
    elsewhere, he advises that to the company's knowledge there is no basis for the

    About Frontier

    Frontier Financial Corporation is a Washington-based financial holding
    company, providing financial services through its commercial bank subsidiary,
    Frontier Bank, since 1978. Frontier Bank offers a wide range of banking and
    financial services to businesses and individuals in its market area, including
    trust, cash management, and investment and insurance products. Frontier
    operates 47 offices in Clallam, Jefferson, King, Kitsap, Pierce, Skagit,
    Snohomish, Thurston, Whatcom counties in Washington and 3 offices in Oregon.
    Additional information regarding Frontier Bank and its services can be found at
    the bank's website:

    This press release includes forward-looking statements and Frontier Financial
    Corporation intends for such statements to be covered by the safe harbor
    provisions of the Private Securities Litigation Reform Act of 1995. These
    forward-looking statements describe Frontier Financial Corporation's
    expectations regarding future events. Future events are difficult to predict
    and are subject to risk and uncertainty which could cause actual results to
    differ materially and adversely. Additional information regarding risks and
    uncertainties is included in Frontier Financial Corporation's periodic filings
    on Forms 10-K and 10-Q with the Securities and Exchange Commission. Frontier
    Financial Corporation undertakes no obligation to revise or amend any
    forward-looking statements to reflect subsequent events or circumstances.

    Patrick M. Fahey Chairman and CEO Frontier Financial Corporation
    425-514-0700 Carol E. Wheeler CFO Frontier Financial Corporation 425-514-0700

    Click here to go to Dow Jones NewsPlus, a web front page of today's most
    important business and market news, analysis and commentary: You can
    use this link on the day this article is published and the following day.

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    • THey had the rumor planned as long as it took for them to unload...

    • More:FloridaIndonesiaTokyoCasey JamesGang StarrCeltics
      Soros Fund Management and Open Society Institute Asked for $250 Million to Fund Acquisitions and Launch Zero Interest Mortgage Products Nationally!
      All Bankers Ships Float Higher With a Rising Tide

      The banking sector in Washington State is on fire!

      Banner Corporation Bank Stock has more than doubled and Frontier Financial Corporation Bank stock has more than tripled since March 4th, 2010 when Alex S. Gabor and Associates, Investment Bankers with offices being set up in New York, Seattle and Budapest, were hired by the Infinite Freedom Foundation of King County to manage its' future investment portfolio.

      Gabor and his Associates have been hired to underwrite about $20 Billion in business which includes book running more than ten billion in zero interest mortgages and acquiring eight banks in Washington State!

      "These 8 banks will have an exclusive license to make a market in zero interest mortgage paper underwritten by the Infinite Freedom Foundation in a proposed joint venture with the Open Society Institute of New York, founded by world famous financier George Soros, my blood relative," said Gabor Sandor Acs, the Hungarian born Director of the Foundations worldwide!

      Recently six separate law firms have filed lawsuits against Frontier Financial Corp. and several of its executives, alleging that the bank violated Securities and Exchange Commission rules by "issuing materially false and misleading statements."

      Frontier Bank has close to a billion dollars worth of non-performing loans as reported in its most recent annual report as filed with the Securities and Exchange Commission.

      But on Monday, April 26th, Frontier Financial Corp stock soared on the news that the Infinite Freedom Foundation was in the process of making a bid for the entire company for $8.88 per share in a simultaneous bid for Banner Corporation and Crystal River Capital of New York!

    • I totally agree! So many bank stock pumpers got sucked in the past couple days.

      Reality came home today....