WEST TOWN BANCORP, INC. ISSUER INFORMATION AND DISCLOSURE STATEMENT PURSUANT TO RULE 15c2-11(a)(5) As of and for the period ended September 30, 2017

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1 WEST TOWN BANCORP, INC. ISSUER INFORMATION AND DISCLOSURE STATEMENT PURSUANT TO RULE 15c2-11(a)(5) As of and for the period ended September 30, 2017 This statement has not been filed with FINRA or any other regulatory agency. None of the Securities and Exchange Commission, the Board of Governors of the Federal Reserve System, any other bank regulatory agency, nor any state securities administrator has approved or disapproved of the securities described herein or passed upon the accuracy or adequacy of the disclosures contained herein. Any representation to the contrary is a criminal offense. The following information is compiled, maintained and made available pursuant to Rule 144(c)(2) of the Securities Act of 1933, as amended (the Securities Act ) and Rule 15c2-11(a)(5)(i)-(xiv) and (a)(5)(xvi) of the Securities Exchange Act of 1934, as amended (the Exchange Act ). The Company is not subject to Section 13 or 15(d) of the Exchange Act and does not file periodic reports with the SEC. In the absence of such filings, this information is intended to satisfy the requirement that adequate current public information with respect to an issuer be available as a condition to the resale of certain securities of the issuer under the safe harbor provided by Rule 144. i. the exact name of the issuer and its predecessor (if any); The name of the issuer is West Town Bancorp, Inc. (the Company ). The Company s predecessor is West Town Bank & Trust ( West Town Bank ), a state bank chartered under the laws of Illinois. Effective January 1, 2016, West Town Bank effected a reorganization pursuant to which the Company became the sole shareholder of West Town Bank. The Company s website is located at The information on the Company s website is not part of, and is not incorporated by referenced into, this disclosure statement. ii. the address of its principal executive offices; The Company s principal executive offices are located at the following address: 8450 Falls of Neuse Rd. Suite 202 Raleigh, North Carolina iii. the state of incorporation, if it is a corporation; The Company was incorporated under laws of the State of North Carolina in 2015.

2 iv. the exact title and class of the security; and v. the par or stated value of the security; West Town Bancorp, Inc. Common Stock, $1.00 par value per share ( Common Stock ). vi. the number of shares or total amount of the securities outstanding as of the end of the issuer's most recent fiscal year; As of December 31, 2016, there were 1,463,105 shares of the Company s Common Stock issued and outstanding. vii. the name and address of the transfer agent; American Stock Transfer & Trust Company, LLC th Avenue Brooklyn, NY Tel: (718) viii. the nature of the issuer's business; The Company is a multi-bank holding company registered under the Bank Holding Company Act of 1956, as amended (the BHC Act ). The Company was incorporated under the laws of the State of North Carolina in 2015 for the principal purpose of serving as the bank holding company for West Town Bank. On August 31, 2017, the Company acquired all of the outstanding capital stock of Sound Banking Company, Morehead City, North Carolina, through a forward triangular merger pursuant to which Sound Banking Company was merged with and into an interim subsidiary bank of the Company. The Company now operates two insured depository institution subsidiaries West Town Bank and Sound Bank, a commercial bank chartered under the laws of the State of North Carolina. As a bank holding company, the Company is authorized to engage in the activities permitted under the BHC Act and the regulations promulgated thereunder. The Company is subject to the federal supervision of the Federal Reserve Bank of Chicago, acting under the delegated authority of the Board of Governors of the Federal Reserve System. The Company s principal business is to provide, through its banking subsidiaries, banking and closely related services to its targeted market areas. The Company s Primary SIC Code is 6022, state commercial bank. The Company owns 100% of the issued and outstanding shares of common stock of each of West Town Bank and Sound Bank. West Town Bank, which is an FDIC-insured commercial bank chartered under the laws of the State of Illinois, commenced business in 1922 as an Illinois-chartered savings and loan association. In 1992, it converted to an Illinois-chartered savings bank and, on August 31, 2014, converted to an Illinois-chartered state bank. Sound Bank is an FDIC-insured commercial bank chartered under the laws of the State

3 of North Carolina with its main office located in Morehead City, North Carolina. The Sound Bank franchise commenced operations on September 4, Each of the Company s subsidiary banks is subject to extensive regulation and supervision. West Town Bank s primary federal regulator is the Federal Deposit Insurance Corporation ( FDIC ), and it is regulated at the state level by the Illinois Department of Financial and Professional Regulation. Sound Bank s primary federal regulator is also the FDIC, and it is regulated at the state level by the North Carolina Commissioner of Banks. ix. the nature of products or services offered; West Town Bank. West Town Bank, which is headquartered in North Riverside, Illinois, is a full-service, community bank that specializes in providing financial services to small- and medium-sized businesses, professionals and individuals. The bank provides banking services through its full service offices in Illinois and North Carolina. In North Carolina, West Town Bank conducts business under the assumed name, or d/b/a, of Albemarle Bank & Trust, a West Town Bank. West Town Bank s primary deposit products are checking, savings, and time certificate accounts, and its primary lending products are residential mortgage, commercial, and installment loans. West Town Bank has an active government-guaranteed lending division, which provides government-guaranteed loans through the Small Business Administration ( SBA ) and the United States Department of Agriculture ( USDA ). The bank also has a mortgage division that offers residential mortgage products in select markets. Additionally, West Town Bank engages in certain insurance agency activities through the bank s wholly-owned subsidiary, West Town Insurance Agency, Inc. A significant portion of West Town Bank s revenues are generated from its mortgage and government-guaranteed lending business segments. The remainder of the bank s income is derived primarily from interest earned on loans, and, to a lesser extent, interest on investment securities and fees for services provided to deposit customers. West Town Bank s major operating expenses are the interest paid on deposits and borrowings, and general operating expenses. Sound Bank. Sound Bank is a community bank that operates five full-service offices in Eastern North Carolina. The bank s operations are primarily retail-oriented and directed to individuals and small- to medium-sized businesses located in its market area, and its deposits and loans are derived primarily from customers in our geographical market. Sound Bank provides traditional commercial and consumer banking services, including personal and commercial checking and savings accounts, money market accounts, certificates of deposit, individual retirement accounts, and related business and individual banking services. The bank s lending activities and products include commercial loans and various consumer-type loans to individuals, including installment loans, mortgage loans, equity lines of credit and overdraft checking credit. Sound Bank also offer internet, mobile banking and 24-hour telephone banking. Sound Bank does not provide the services of a trust department. Additional information about Sound Bank can be found on its website (

4 Each of West Town Bank and Sound Bank file quarterly Consolidated Reports of Condition and Income, or Call Reports, with the FDIC that provide additional detail on the financial condition and operating performance of the Company s subsidiary banks. The Call Reports are publically available and can be accessed electronically at the Federal Financial Institutions Examination Council s website at the following link, x. the nature and extent of the issuer s facilities; The following table summarizes certain information about the Company s and its subsidiaries properties and facilities: Office West Town Bancorp, Inc. Address Approximate Square Footage Owned or Leased Company main office/admin. West Town Bank & Trust West Town Bank main office West Town Bank Cicero branch West Town Bank Winterville branch West Town Bank Edenton branch 8450 Falls of Neuse Rd. Suite 202 Raleigh, NC West 26th Street North Riverside, IL West 30th Street Cicero, IL South Memorial Drive Suite B Winterville, NC South Broad Street Edenton, NC ,395 Owned 4,789 Owned 6,530 Owned 3,050 Leased 10,754 Owned Sound Bank Sound Bank main office Sound Bank Beaufort branch Sound Bank Cedar Point branch Sound Bank New Bern branch Sound Bank Wilmington branch 5039 Executive Drive Morehead City, NC Live Oak Street Beaufort, NC Cedar Point Blvd. Cedar Point, NC South Glenburnie Rd. New Bern, NC Military Cutoff Road Wilmington, NC ,000 Owned 2,000 Leased 2,000 Owned 2,000 Owned 1,456 Leased

5 Office Sound Bank Jacksonville loan production office Address 624 New Bridge Street Unit 700, Jacksonville, NC Approximate Square Footage Owned or Leased 500 Leased Additional financial information regarding the Company s property and equipment can be found in the notes to consolidated financial statements for the Company s most recent audited financial statements. A copy of the Company s most recent audited financial statements can be accessed electronically at: xi. the name of the chief executive officer and members of the board of directors of the Company; NAME POSITION(S) HELD WITH COMPANY CURRENT PRINCIPAL OCCUPATION(S) Eric J. Bergevin Director, President and CEO President and Chief Executive Officer of the Company and West Town Bank & Trust; Chief Executive Officer of Sound Bank Marc McConnell Chairman Chairman, Art's Way Mfg. Co., Inc. (diversified manufacturing co.); Vice Chairman, McConnell Holdings, Inc. (manufacturing, real estate, investments); President, Bauer Corporation (manufacturing co.) James J. Kemp, Jr. Director and Corporate Secretary Attorney, Kemp & Grzelakowski, Ltd.; prior General Counsel to the Illinois Commission of Savings and Loan Associations Dolores M. Lare Director Managing Principal of Patriot Financial Partners, L.P. (investment fund) Malcolm C. Garland Director SVP of Sound Bank; Owner, Malcolm Garland Company, from (community bank consulting services) Jeffrey K. Moore, MD Director Owner, Moore Orthopedic and Sports Medicine (orthopedic surgery) Randall C. Ramsey Director President and co-owner, Jarrett Bay Boatworks, Inc. (custom yacht builder) Joseph T. Snyder Director Founder and President, Snyder Insurance and Financial Services Jimmy E. Stallings Director Founder, Chowan Agency, a Farm Bureau Insurance company (retired) K. Dean Wagaman Director President and owner, Kurtis Chevrolet, Inc. (automobile dealership) Sandra Warren Director Owner/General Manager, Executive Personnel Group, LLC (staffing/employment) David Wicklund Director Director of Education & Advisory Services the Plansmith Corporation (community bank consulting)

6 xii. the issuer's most recent balance sheet and profit and loss and retained earnings statements; Attached as Appendix A to this disclosure statement is a copy of the Company s most recent period-end consolidated balance sheet, consolidated statements of income, and statements of changes in shareholders equity. Except as otherwise indicated, such information is unaudited. xiii. similar financial information for such part of the two preceding fiscal years as the issuer or its predecessor has been in existence; Please refer to the Company s audited consolidated financial statements as of and for the two preceding fiscal years for the required financial information. A copy of these financial statements can be found by accessing the Company s web site at and navigating to the Investor Relations section of the Company s website. xiv. whether a broker or dealer or any associated person is affiliated, directly or indirectly with the issuer; No broker or dealer or any associated person is affiliated, directly or indirectly, with the issuer in connection with any shares of the Company s Common Stock that may be resold under Rule 144. One or more brokers or dealers facilitate trades in the Company s Common Stock and may act as informal market makers. However, no broker or dealer has any obligation to purchase or sell any of the Company s shares of Common Stock at any time and may discontinue any market making activities at any time. xv. xvi. [not applicable] whether the quotation is being submitted or published directly or indirectly on behalf of the issuer, or any director, officer or any person, directly or indirectly the beneficial owner of more than 10 percent of the outstanding units or shares of any equity security of the issuer, and, if so, the name of such person, and the basis for any exemption under the federal securities laws for any sales of such securities on behalf of such person. To the Company s knowledge, there is no quotation being submitted or published directly or indirectly on behalf of the Company, or any director, officer or any person directly or indirectly the beneficial owner of more than 10 percent of the outstanding shares of any equity security of the Company, or at the request of any promoter for the Company. As of the date of this disclosure statement, officers or directors of the Company for whose account a broker or dealer is offering to sell shares of the Company s Common Stock include the following: None. *****

7 This information has been prepared by the Company. No dealer, salesman or any other person has been authorized to give any information, or to make any representations, not contained herein in connection with the Company. Such information or representations, if made, must not be relied upon as having been authorized by the Company. Date on which this information was last revised: October 31, 2017 The financial information provided herewith has been provided as of the date indicated, and, except as otherwise required by law, the Company assumes no obligation to update any information contained herein for subsequent events or developments.

8 APPENDIX A West Town Bancorp, Inc. Consolidated Financial Information [See Attached] If no financial information is attached, readers are directed to the Company s most recent audited financial statements that are accessible through the Company s website.