909 SE Bay Boulevard
PO BOX 2280
Newport, OR 97365

New Oregon Coast Bank Pacific City Office Officially Opens Monday, July 19th

For Immediate Release

Thursday, July 8, 2004

Contact: Fred Postlewait
              Oregon Coast Bank

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.

Headquartered in Newport, Oregon Coast Bank is not just a “coastal bank” by name. The bank was chartered in 2002 when a group of local businesspeople came to the conclusion that although the central coast was served by several branches of large “chain” banks, those institutions had little interest in providing loans to the hotels, restaurants, fishermen, loggers, and other businesses that are the backbone of the community. More than 145 central coast residents invested in the bank and within two years, Oregon Coast Bank has grown to more than $50 million in assets.

Because of its experienced staff of local bankers, Oregon Coast Bank has received high marks from consumers for customer service. Since all loan decisions are made here on the coast, Oregon Coast Bank is able to offer quicker response times than the branches of the “chain” banks.

The new Oregon Coast Bank Pacific City office is managed by Rose Wharton, a Cloverdale native and resident who previously worked for 30 years at the US Bank branch in Cloverdale, serving as manager for the past 15 years. “It’s been a longtime dream of mine to be part of a true community bank attuned to the economic interests of South Tillamook County,” explained Wharton. “Everyone associated with Oregon Coast Bank seems genuinely interested in learning how we work and live and how the bank can make high quality local loans to provide needed capital to our businesses and residents.”

As of the end of June, South Tillamook County residents had already opened 287 Oregon Coast Bank accounts totaling more than $4.5 million, which is remarkable considering that the bank’s temporary Pacific City office was less than 500 square feet and had none of the amenities of the new building. “Those deposits are helping fund loans for residential and commercial development right here in the county”, commented Wharton. “That’s one of the great things about having a community bank.”