909 SE Bay Boulevard
PO BOX 2280
Newport, OR 97365

Hundreds Celebrate Grand Opening of New Oregon Coast Bank Toledo Office

For Immediate Release

Friday, June 11, 2010

Contact: Fred Postlewait
              Oregon Coast Bank

Toledo, OR – With the weather cooperating for most of the evening, a large crowd of primarily Toledo, Siletz, Eddyville, Logsden and Newport residents gathered on Thursday evening June 10 to celebrate the official Grand Opening of Oregon Coast Bank’s new Toledo office. Guests dined on salmon, cod, shrimp kabobs, fresh oysters, kielbasa, coleslaw, garlic bread, Mo’s chowder and dessert trays from Island Wild Seafoods.

More then 30 prizes were awarded during an old-fashioned cakewalk in which guests were asked to stand on numbers spread throughout the building and deck. Prizes included gift certificates from Oregon Coast Bank customers Toledo Florist, Toledo Ace Hardware, The Timbers Restaurant & Lounge and Advertee’s as well as 11 cakes and desserts home-baked by Oregon Coast Bank employees.

Steve Allen of Newport won $103.10 for having the closest guess of how much money was in a fish bowl. Allen was phenomenally accurate, coming within 90 cents of the actual total. Also popular was a 12-question East County Trivia Contest. In first place, winning a $100 savings bond, was Peggy Ceballos of Toledo. Receiving $50 savings bonds for second and third place respectively were Frank Mayfield and Nancy Lynne, both also of Toledo.

Locally owned and operated, Oregon Coast Bank first opened in Newport in 2002. The bank has grown rapidly and now has more than $135 million in assets. Perhaps more importantly for the community, Oregon Coast Bank has proven to be a reliable source of financing, lending more than $250 million to local families and businesses. The new Toledo office is the fifth for Oregon Coast Bank, which also has offices in Newport, Pacific City, Lincoln City and Waldport.

The 3,400 square foot cedar clad Oregon Coast Bank Toledo building was designed to reflect local architecture and includes a spacious lobby, offices, drive-up window, ATM, conference room and space for additional administrative staff. Construction, which began last July, proceeded almost perfectly on schedule allowing the office to open January 11. Quade Construction of Lincoln City served as the general contractor and most of the subcontractors were also from the local area.

Toledo City Manager Michelle Amberg, also an Oregon Coast Bank customer, had the honor of cutting the ceremonial ribbon. In his brief remarks to the crowd, Jake Postlewait, Manager of Oregon Coast Bank’s Toledo office, thanked the community for their support and his staff for their hard work. Fred Postlewait, President and Chief Executive Office of the bank, also expressed his appreciation to the crowd and mentioned that Toledo was an ideal fit for a bank which has historically supported the timber, fishing and tourism industries.