April Highlights

• Equity indices declined across the board as economic data suggesting stubborn inflation and mixed growth signals led to a reduction in Federal Reserve rate cut expectations.
   
• In light of the economic statistics mentioned above, interest rates rose materially versus the end of March; and have year-to-date as well.
   
• Despite the difficult market environment during the month, corporate earnings for the first quarter tended to come in generally stronger than expected; at least through April.

Trust and Investment Services:

• Are not insured by the FDIC or any other federal government agency.

• Are not deposits of, nor guaranteed by, the Trust Company or any Trust Company Affiliate.

• May lose value.

Country Club Trust Company (CCTC) is a division of Country Club Bank.

Some information provided above may be obtained from outside sources believed to be reliable, but no representation is made as to its accuracy or completeness.This document is intended for discussion purposes only and should not be considered a recommendation. Please note that investments

involve risk, and that past performance does not guarantee future results.