INVESTMENT INTRODUCTION

Physicians First Bancorp, Inc. (“PFBI”) is presenting you the opportunity to participate in its offering to raise the necessary funds to acquire and operate a physicians-owned bank.

PFBI has worked diligently with Dentons Davis Brown PC, a leading law firm, and Eide Bailly LLP, a leading CPA firm, both specializing in the banking and financial services industry, to prepare the attached documents constituting PFBI’s Private Placement Offering (“PPO”). PFBI has initiated preliminary discussions with the Federal Reserve Board (the regulatory authority of bank holding companies) and the Federal Deposit Insurance Corporation and the Iowa Division of Banking (the regulatory authorities of Iowa state banks). Funds raised under the PPO will enable PFBI to enter into an agreement to acquire an existing community bank and to complete the required applications to the regulatory authorities for their review and approval.

CONFIDENTIALITY NOTICE AND AGREEMENT

BY ENTERING THE PASS CODE AND ACCESSING OR VIEWING THE PASS CODE-PROTECTED PRIVATE PLACEMENT MEMORANDUM AND OTHER INFORMATION CONTAINED WITHIN THIS USB FLASH DRIVE OR OTHER DATA STORAGE DEVICE PROVIDED TO YOU BY PHYSICIANS FIRST BANCORP, INC. OR ITS FOUNDERS,  MARTIN J. NICHOLS OR THOMAS J. CHAMBERS, YOU ACCEPT AND AGREE THAT THE INFORMATION CONTAINED WITHIN THIS USB FLASH DRIVE OR OTHER DATA STORAGE DEVICE IS STRICTLY CONFIDENTIAL, PROPRIETARY, AND OF SUBSTANTIAL VALUE TO PFBI, THAT YOU WILL USE THE INFORMATION ONLY FOR THE PURPOSE OF CONSIDERING A POSSIBLE INVESTMENT IN PFBI, AND THAT YOU WILL SAFEGUARD THE PASS CODE AND THE INFORMATION AND WILL NOT PROVIDE ACCESS TO OR DISCLOSE THE PASS CODE OR INFORMATION TO OTHERS.  IF YOU DO NOT WANT TO AGREE TO THE TERMS AND CONDITIONS OF THIS CONFIDENTIALITY NOTICE AND AGREEMENT, THEN YOU MUST NOT ACCESS OR VIEW THE PRIVATE PLACEMENT MEMORANDUM AND OTHER INFORMATION.

Once you have completed and signed the Subscription Agreement and obtained a completed and signed Third-Party Accredited Investor Verification Letter, then please return both signed documents and your Deposit in the amount determined in the Subscription Agreement to PFBI’s Vice President and Chief Operating Officer at the following address:  Martin J. (“Marty”) Nichols, 2203 Buffalo Gap, Leander, TX 78641. You may direct questions to Mr. Nichols [email protected] or (512) 970-8267.