909 SE Bay Boulevard
PO Box 2880
Newport, OR 97365

Cora Warfield Joins Oregon Coast Bank Management Team

For Immediate Release

Monday, April 15, 2002

Contact: Fred Postlewait
              Oregon Coast Bank

Newport, OR – The Board of Directors of Oregon Coast Bank (in organization) have named long-time local banker Cora Warfield as Vice President/Cashier. Having recently received preliminary approval from both the State of Oregon and the FDIC, Oregon Coast Bank (in organization) expects to begin operations at the completion of its initial stock offering. When the locally-owned bank opens, its entire senior management team will be made up of residents with extensive local bank management experience.

Warfield is the former Assistant Vice President, Bank Operations of Lincoln Security Bank. She left that position after the bank was acquired by Umpqua Bank, a large regional chain. Warfield had started at Lincoln Security Bank during its first month of operations in June of 1996. She handled a wide variety of responsibilities and is credited with coordinating the bank’s successful Y2K compliance efforts. She began her banking career at the Newport branch of National Security Bank in 1978, the day after she graduated from Toledo High School. Over a period of 18 years with National Security Bank, she held positions as new accounts representative, teller, loan processor, head teller and in the credit card and accounting divisions.

“I’ve spent the first 24 years of my banking career working for two very successful community banks,” explained Warfield. “I know firsthand what a difference that local ownership can make. Lincoln County needs a new community bank and I’m very excited to be part of the management team that will make that happen.” “There are literally hundreds of customers in this area who have nothing but great things to say about Cora as a banker and as a person,” commented Fred Postlewait, Oregon Coast Bank’s President and CEO.

Warfield and her husband Terry, who works in a family owned logging firm, are longtime residents of Toledo. The couple’s two children, Rachel and Matthew, both attend Toledo High School. Cora Warfield’s many civic activities include the Toledo Summer Festival Committee, the Toledo Local Schools Committee and the Toledo Boosters Club.

In related news, Postlewait also reported that the bank’s initial stock offering was still expected to close on May 18th. Investors interested in participating in the initial stock offering can obtain a prospectus from Postlewait, Warfield, Vickie Spencer or any of the bank’s board of directors by calling 541-265-9000.