909 SE Bay Boulevard
PO Box 2280
Newport, OR 97365

For Immediate Release
Wednesday, April 1, 2020

Contact: Joe Postlewait
Oregon Coast Bank

Newport, OR – With local families and businesses suffering due to Covid-19 related economic challenges, Oregon Coast Bank has announced several financial options. In addition, the bank is informing the public of its current operating protocols to allow banking access while protecting the health of customers, staff and the community.

“We understand that coronavirus related furloughs and layoffs have impacted many area families and that many local self-employed individuals are also facing significant drops in their income,” commented Joe Postlewait, President of Oregon Coast Bank. “If you have an Oregon Coast Bank loan or line of credit and would like to defer or lower your payments, please call or email. We’re here to help and have the flexibility to quickly rearrange terms to fit most needs.”

“We recognize how important the long-term health of our local businesses is to our coastal economy and we’re committed to helping area companies weather this economic downturn,” explained Postlewait. “Oregon Coast Bank business customers with loans and/or lines of credit can call or email to request loan restructuring such as payment deferrals or interest-only payments. Our loan officers are flexible and can quickly arrange solutions to fit most needs. In addition, if you’d like to take advantage of federal programs, Oregon Coast Bank is an SBA approved lender.”

Following recommended safety protocols, Oregon Coast Bank lobbies are at this point closed. However, the bank’s drive-up windows remain open during all regular hours and Oregon Coast Bank ATMs, online banking and mobile banking app provide 24-hour banking service. Customers needing assistance with their accounts can talk directly with Oregon Coast Bank staff by phone. Customers can also schedule appointments at the
bank. All Oregon Coast Bank offices are practicing social distancing and common areas, including ATMS, are regularly sanitized. Oregon Coast Bank, which operates offices in Newport, Toledo, Waldport, Lincoln City,
Pacific City and Tillamook, has grown to $258 million in assets. Known as an active lender in coastal communities, the bank has provided more than $794 million in financing to local families and businesses.