January 16th, 2006
Oregon Coast Bank Successfully Converts to Subchapter S Corporation
Newport, OR – Since 1986 more than 2,300 independent American banks have elected to convert into Subchapter S Corporations. That total represents more than 25% of the entire industry and the percentage continues to grow. In December, more than 90% of Oregon Coast Bank’s 237,000 shares participated in an election on the question of whether to add Oregon Coast Bank to the list of Subchapter S banks. Of the shares voting, 95.8% voted in favor of the conversion and the creation of a new holding company, Oregon Coast Bancshares, Inc. The conversion, which has no affect on the day to day operations of Oregon Coast Bank, became official as of January 1, 2006.
January 11th, 2006
Oregon Coast Bank to Build Waldport Office
Waldport, OR – After months of speculation Oregon Coast Bank has confirmed that it will soon build the bank’s newest office in Waldport. The bank has purchased property on NW Spring Street, just north of the intersection of Highways 101 and 34. Oregon Coast Bank has applied to both FDIC and state for approval of its expansion plans to Waldport. Construction of the 2,500 square foot office will begin in late January with completion tentatively slated for this summer.
March 31st, 2005
Oregon Coast Bank Surpasses $100 Million Loan Milestone
Newport, OR –Community banks offer a wide variety of financial services, but by far their most important function is to provide loans for local families and businesses. During March, Oregon Coast Bank, a locally owned and operated financial institution, surpassed the $100 million mark in loans to the community. Perhaps even more significant is the fact that the bank achieved the milestone in less than three years of operations.
October 26th, 2004
Twenty Complete First Time Home Buyers Course
Newport, OR – With mortgage rates still close to 40-year lows, many consumers are discovering that they can own a home for a monthly payment that is actually less than what they are currently paying for rent. However for most people, buying a first home can be a daunting process. In response, a team of Lincoln County industry professionals have been offering a series of First Time Home Buyers classes. The most recent session, held this past Saturday in the board room at Oregon Coast Bank, attracted twenty enthusiastic attendees.
August 25th, 2004
Overflow Crowd Celebrates Opening of Oregon Coast Bank’s New Pacific City Office
Pacific City, OR – More than 350 people joined in the festivities as the new Pacific City office of Oregon Coast Bank was dedicated on Tuesday evening. Remodeling of the 3000 square foot building, which is located at 35490 Airport Way, began in March. Quade Construction of Lincoln City was the general contractor, with subcontracting services performed by a variety of other central coast professionals. The project was completed on time and on budget.
July 8th, 2004
New Oregon Coast Bank Pacific City Office Officially Opens Monday, July 19th
Pacific City, OR – With construction mostly completed, Oregon Coast Bank’s new Pacific City office will open its doors to the public on Monday, July 19th. The bank has been serving customers for the past several months in a small temporary office. The new 3000 square foot building, which is located at 35490 Airport Way, includes a drive-up window, 24-hour ATM, safety deposit boxes, night depository and plenty of off street parking.
June 4th, 2004
Oregon Coast Bank Board Elects New Officers
Newport, OR – The Board of Directors of Oregon Coast Bank has elected three officers to two-year terms. Duane Edwards will succeed Dr. Richard Beemer as Chairman. Beemer will continue to actively serve on the board. Ralph G. Hawley III has been elected Vice Chairman and Frank Brawner has been elected to a second term as Secretary.
May 6th, 2004
Free First Time Home Buyers Class To Be Held May 15th
Newport, OR – A team of Lincoln County industry professionals will offer a free First Time Home Buyers class on Saturday May 15th from 10am – 5pm. The program will be held in the board room at Oregon Coast Bank, which is located just across from the Embarcadero on Newport’s bayfront. Attendees should bring a brownbag lunch.
January 30th, 2004
Rose Wharton to Manage New Oregon Coast Bank Pacific City Office
Pacific City, OR – Longtime Cloverdale banker, Rose Wharton, has been named manager of the new Oregon Coast Bank Pacific City office. The bank will be located at 35490 Airport Way in the old Medical Office Building, which Oregon Coast Bank has purchased. Remodeling plans are now being finalized and the building is expected to be completed by mid-June. A temporary facility is slated for opening in April with limited initial services.
January 19th, 2004
Plans For Oregon Coast Bank’s New Pacific City Office Proceeding Rapidly
Newport, OR –A small sign reading “Future Home of Oregon Coast Bank” has drawn considerable attention at 34590 Airport Way in Pacific City. The independent community bank announced last month that it had chosen Pacific City as the location for its second office. Since that time, the Newport-based bank has purchased the old medical building located between Airport Way and Brooten Road and is finalizing plans for its conversion into a bank office. Oregon Coast Bank expects to receive both FDIC and state approval of its expansion plans to Pacific City before the end of January. Remodeling of the building is projected to be completed by the end of May and the bank will open soon after.