News | Oregon Coast Bank

January 16th, 2004

Oregon Coast Bank Grows by 79.8% in 2003

Newport, OR –Oregon Coast Bank, Lincoln County’s only locally owned and operated financial institution, has released its 2003 financial reports which show that the bank has grown significantly in all key categories. Total assets rose to $37.8 million, an increase of 79.8% from year end 2002. Loans were also on the rise, with the number of loans increasing by 95% and total loan dollars increasing by 147%. Total deposits doubled, with the number of savings accounts increasing by 73.3% and the number of certificates of deposits increasing by 143%. Overall, the bank’s total accounts increased by a solid 76.3% during 2003.

September 8th, 2003

Oregon Coast Bank Adds $37 Million to Local Economy

Newport, OR – Last year, when more than 125 local investors raised the necessary capital to found Oregon Coast Bank, one of their stated goals was to “fuel the local economy through reinvestment”. After just 14 months of operation, Oregon Coast Bank is clearly meeting that goal.

July 24th, 2003

Oregon Coast Bank Adds Two To Real Estate Lending Team

Newport, OR – Having funded more than $30 million in loans in just its first year of operations, Newport-based Oregon Coast Bank has expanded its Real Estate Lending department with the addition of Betty Bell and Linda Christian.

June 20th, 2003

Overflow Crowd Celebrates Opening of Oregon Coast Bank’s New Building

Newport, OR – More than 400 people joined in the festivities as the new Oregon Coast Bank building was dedicated on Thursday evening. Construction of the 7,600 square foot building, which is located on Newport’s bayfront across from the Embarcadero, began in November. Quade Construction of Lincoln City was the general contractor, with subcontracting services performed by a variety of other Lincoln County professionals. The project was completed on time and on budget.

May 29th, 2003

New Oregon Coast Bank Building Opens Exactly On Schedule

Newport, OR – After just seven months of construction, customers are now banking in the new Oregon Coast Bank building. Thanks to the efforts of Lincoln City’s Quade Construction, the project’s general contractor, and several other local subcontractors, the building was opened on Monday, May 26th, which was exactly the completion date originally projected. The building is located across from the Embarcadero on Newport’s bayfront.

April 22nd, 2003

Oregon Coast Bank Rapidly Approaching Lending Milestones

Newport, OR – Perhaps the most important function of any community bank is to provide loans for local families and businesses. This month, Newport-based Oregon Coast Bank, Lincoln County’s only locally owned and operated financial institution, announced that it was rapidly approaching two lending milestones. After just 10 months of operation, Oregon Coast Bank has made almost 500 loans, totaling nearly $25 million.

January 24th, 2003

Oregon Coast Bank Construction Ahead of Schedule

Newport, OR –There is nothing unusual about delays in commercial construction. What is unusual is for a large project to actually be ahead of its construction schedule. But for Oregon Coast Bank, that is exactly what has occurred so far. Construction for the locally owned and operated community bank’s headquarters building began in November. The building, which is located across from Embarcadero on Newport’s bayfront, has now been framed and is “actually ahead of schedule”, according to Fred Postlewait, the bank’s President and Chief Executive Officer.

November 27th, 2002

Oregon Coast Bank Exceeds Performance Milestone

Newport, OR – In July, when Oregon Coast Bank first opened its doors, the board of directors of the Newport-based community bank had a financial benchmark to live up to. “Some of us had been part of the startup of Lincoln Security Bank,” explained Fred Postlewait, Oregon Coast Bank’s President and Chief Executive Officer. Lincoln Security Bank had been one of Oregon’s fastest growing independent community banks, surpassing the $20 million mark in total assets in just one year of operations. However Oregon Coast Bank has grown even more rapidly. The bank recently announced that it had surpassed the $20 million total asset milestone in less than four months since first opening its doors.

October 9th, 2002

Vickie Spencer Named Executive Vice President of Oregon Coast Bank

Newport, OR – The board of directors of Oregon Coast Bank has announced that longtime Newport banker Vickie Spencer has been promoted to Executive Vice President. Spencer joined the bank this past April and played an active role in preparing the bank for its July opening. She is the bank’s loan administrator and as such is responsible for loan quality, staff training and legal compliance as well as personally handling many customer loan requests.

September 6th, 2002

Oregon Coast Bank Celebrates Grand Opening

Newport, OR – On Thursday night, Lincoln County’s newest financial institution held a grand opening party for its customers and the community. Fortunately the weather was perfect, because the large crowd spilled out of the Oregon Coast Bank lobby into the parking lot.