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.