Ramsay, Stattman, Vela & Price, Inc. (hereinafter “RSVP”) is an SEC-registered investment adviser with its principal place of business located in Colorado. RSVP began conducting business in 1971. Listed below are the firm's principal shareholders (i.e., those individuals and/or entities controlling 25% or more of this company):
• Steven R. Vela, President
• Philip S. Price, Vice President/Secretary
• Frederick B. Stattman, Vice President/Treasurer & Chief Compliance Officer RSVP offers the following advisory services to our clients: INVESTMENT SUPERVISORY SERVICES ("ISS") INDIVIDUAL PORTFOLIO MANAGEMENT Our firm provides continuous advice to a client regarding the investment of client funds based on the individual needs of the client. Through personal discussions in which goals and objectives based on a client's particular circumstances are established, we develop a client's personal investment policy and create and manage a portfolio based on that policy. During our data-gathering process, we determine the client’s individual objectives, time horizons, risk tolerance, and liquidity needs. As appropriate, we also review and discuss a client's prior investment history, as well as family composition and background. We manage these advisory accounts on a discretionary basis (except in special circumstances which prohibit or make it less desirable to assign discretionary authority). Account supervision is guided by the client's stated objectives (i.e., Growth, Balanced: Growth Emphasis, Balanced: Income Emphasis, and Income), as well as tax considerations. Clients

may impose reasonable restrictions on investing in certain securities, types of securities, or industry sectors. Our investment recommendations will generally include advice regarding the following securities:
• Exchange-listed securities
• Securities traded over-the-counter
• Foreign issuers
• Corporate debt securities (other than commercial paper)
• Certificates of deposit
• Municipal securities
• Mutual fund shares
• United States governmental securities Because some types of investments involve certain additional degrees of risk, they will only be implemented/recommended when consistent with the client's stated investment objectives, tolerance for risk, liquidity and suitability. SUB-ADVISORY SERVICE RSVP has a sub-advisory relationship with ANB Financial Services, a division of ANB Bank unaffiliated with RSVP, in which RSVP provides investment management and advisory services to ANB Financial Services’ trust and investment management accounts. RSVP provides the following services for these accounts: assesses with the bank the appropriate investment objectives of clients, performs investment management, provides periodic performance reports and periodically meets with clients as deemed appropriate or as requested by ANB Financial Services. Stocks and Bonds held in these accounts are held in custody at ANB Financial Services. AMOUNT OF MANAGED ASSETS As of 12/31/2023, we were actively managing $669,709,488 of clients' assets on a discretionary basis plus $7,254,815 of clients' assets on a non-discretionary basis.