909 SE Bay Boulevard
PO BOX 2280
Newport, OR 97365
Oregon Coast Bank Names Joe Postlewait as Vice President / Investment Securities
For Immediate Release
Friday, February 15, 2013
Contact: Fred Postlewait
Oregon Coast Bank
Newport, OR – One of the essential functions of any bank is to purchase short and long-term securities, so that the portion of a bank’s assets that are not committed to loans can be invested safely. For the past four years, Joe Postlewait has managed the investment strategies for Oregon Coast Bank. Noting his success with the bank’s $80 million bond portfolio and his skills as a lender, property evaluator, and manager, the Oregon Coast Bank Board of Directors recently promoted him to the position of Vice President / Investment Securities.
Joe Postlewait was raised in the area and is a graduate of Newport High School. He attended both Linfield College and Oregon State University. After seven years in the construction business he joined the management training program at Oregon Coast Bank in 2007. In December of that year, he led the bank’s expansion to Waldport, serving as manager of the new office. In May of 2009 he returned to the Newport headquarters to replace Fred Postlewait as the bank’s investment officer. Fred Postlewait remains Oregon Coast Bank’s President and Chief Executive Officer.
Besides his responsibilities as the bank’s investment officer, Joe Postlewait is a senior lending officer, performs property evaluations, serves on the ALCO committee, and functions as a relief manager at the bank’s five offices.
Joe and his wife Kasey have three children, ages seven, five and three. The family recently purchased a home in Newport after living in the Seal Rock area for several years. In his spare time Postlewait hunts, fishes, is an avid reader of history and runs in marathons and 50K races. He serves on the Board of Trustees for the Pacific Communities Hospital Health Foundation.
“Joe’s sound, conservative strategies have resulted in a diverse, steadily performing portfolio of investments for our bank,” explained Fred Postlewait, President and Chief Executive Officer of Oregon Coast Bank. “He’s an important part of our management team, particularly because of his versatility.”
“We’re fortunate to have a Board of Directors committed to lending in our local communities,” pointed out Joe Postlewait. “Even during the economic downturn of the past several years, Oregon Coast Bank has continued to reinvest millions into the local economy in the form of loans to families and businesses.”