Terang won the 1995 premiership and finished runners-up in 1991, 93 and 96.

When, in its first season as Terang Mortlake in 2002, the Bloods were again beaten grand finalists, it looked like more of close but not close enough lay ahead. 

But the 2000s were to be a golden era, the club not missing the finals and winning three flags.

Terang Mortlake 18. 5. (113) defeated Warrnambool 11. 10. (76) 

GOALS: Terang Mortlake: M. Irving 4, I. Wearmouth, X. Moloney 3, L. Vogels, T. Attrill, D. Stone, J. Kenna, P. Heffernan, M. Buck, D. Little, L. Moloney 1. Warrnambool: J. Heatley 5, T. Graham 3, T. Moloney, A McCarthy, J. Lewis 1.

BEST: Terang Mortlake: X. Moloney, P. Heffernan, B. Membrey, M.Irving, S. Schrama, D. Little. Warrnambool: A. Main, A. McCarthy, J. Lewis, M. Bourke, S. Turner, P. Dwyer.

In his first year as senior coach, Adam Dowie led the Bloods into the finals, finishing fourth. Koroit had dominated the season, losing just three games, while Warrnambool, courtesy of a second semi-final upset over the Saints, were considered the main challenger. But it was the Bloods who swept all before them, coming from the elimination final to win the flag.

Among the stars was Luke Vogels, the young key position player producing a season that netted a premiership, a Maskell Medal and an invitation to train with the Sydney Swans. Vogels was picked up by the Swans and played 17 AFL games.

He recalls fondly his breakout season in Hampden league football. 

"We had a reasonable year and scraped into the finals. From there, it all came together, there wasn't necessarily one thing that set us on our way, we were just playing good footy at the right time. Koroit and Warrnambool were more experienced and we had a younger team and I think that helped us, we weren't really thinking about reputations, we were just going out there and playing. I had played as a key forward most of the season and Snoop (Adam Dowie) threw me to the backline during the finals. Being able to play both ends certainly helped when I got the chance to train at Sydney. In 2004, we were all certainly on the same page and we got the rewards for that."

Terang Mortlake 12.11 (83) defeated Port Fairy 9.8 (62)

GOALS: Terang Mortlake: M. Sargeant 4, M. Irving 3, N. Kenna, B. Membrey, P. Gleeson, P. Heffernan, D. Stone 1. Port Fairy: F. Matthews 4, J. McNamara, L. Tennant, D. Dwyer, R. Burns, A. Leishman.

BEST: Terang Mortlake: D. O’Connor, D. Stone, S. Schrama, M. Schrama, M. Craven, P. Heffernan. Port Fairy: B. McCosh, N. Hayes, C. Richardson, B. Coffey, M. Habel, J. Walters.

While the Bloods had been the bolters the previous season, in 2005 they were the pacesetters, a role they adapted to with aplomb. During the home-and-away season, Terang Mortlake lost just five games, along the way installing themselves as flag favourites. 

Come finals, the Bloods were up against Koroit in the second semi-final at Gardens Oval. The two clubs knew each other only too well, with this one of many finals clashes since the start of the decade. The Bloods went in as favourites and there was no way they were taking the foot off the pedal, taking the Saints to task, winning by 62 points.

In the grand final, they were up against the Brad Sholl-coached Port Fairy, with the Seagulls riding on the usual wave of emotion that meets them when they reach the season's biggest game. Sholl's men were gallant, but the Bloods had too much firepower and for just the second time in the club’s history, the first being in 1955-56, won back-to-back flags.

While stars such as Matthew Irving, Pat Heffernan and Damian O'Connor shone bright, the Bloods also had plenty of unsung heroes.

Among those was Lex Moloney, who had also collected a premiership medallion in 2004.

Moloney said it was a special time for Terang Mortlake.

"It was an awesome time to be around the club, that's for sure. In 2004 we had a lot of momentum, we had no idea when it was going to end. I remember organising relief milkers for the Monday of each of the finals because each of those games could have been our last. It's not necessarily the best team all year that wins the flag, it's the one that plays at its best in the finals. In 2005, there was a really good feel around the club, there was a quiet confidence. The second semi-final was one of our best games for the year. The hype around Port Fairy in grand final week did take some pressure off us, but really what we were doing was pretty basic. Snoop’s (Adam Dowie) game plan wasn't complicated, it wasn't rocket science. He was able to bring out the best in us, everyone was enjoying their footy and playing for each other. I played an on ball-forward-bench rotation. I was 27-28, it was good to get the opportunity. When I was a kid out of under 18s it was really hard to break into the senior team in the mid 1990s because it was so strong."   

Terang Mortlake 9. 14. (68) defeated Warrnambool 3. 10. (28)

GOALS: Terang Mortlake: J. Moloney 3, J. Baxter 2, P. Heffernan, M. Irving, D. Stone, S. Staunton 1. Warrnambool: K. Bourke, N. Millard, A Searle 1. 

BEST: Terang Mortlake: J. Moloney, S. Schrama, P. Heffernan, D. Moloney, B. Kenna, N. Jones, M. Sargent. Warrnambool: J. McCorkell, T. O’Keeffe, S. Boyd, L. Hoy, N. Chirnside, A. McCorkell.

After bowing out in the elimination final, Adam Dowie stood aside at the end of the 2006 season and champion forward Matthew Irving took over as coach. Irving was an instant success, taking the Bloods to the top of the ladder in 2007. The Bloods finals campaign did not match its home-and-away form, losing both the second semi and preliminary finals. The same happened in 2009, with a Terang Mortlake straight sets exit after a top-of-the-ladder finish.

But nestled in between was a season of glory, with 2008 bringing with it the Bloods’ third flag in five years.

Irving said while the 2008 premiership was often grouped with the 2004-05 triumphs, he sees it as a different beast.

"At the end of 2006, there was a turnover of players. In 2008, we had some really good young players who stood up when we needed. In 2007, we lost five or six of our best players during the finals and things didn't go our way in 2009 so it was a bittersweet period, we could have won two or three flags. But certainly 2008 was a great result, we had put in a lot of work and to win the flag was a culmination of all that hard work."