Pursuant to a letter dated July 18, 2016 to Lourdes Leon Guerrero, Chair of the Board & President and Chief Executive Officer of BankGuam Holding Company and received by the Company on July 20, 2016, Dr. Ralph G. Sablan, voluntarily retired from the Company's Board of Directors. Dr. Sablan's retirement was accepted at the July 25, 2016 Company Board Meeting and effective July 31, 2016. Additionally, Dr. Sablan also retired as a member of the Board of Directors of the Company's two subsidiaries Bank of Guam and BG Investment and Insurance Services.