909 SE Bay Boulevard
PO BOX 2280
Newport, OR 97365

Oregon Coast Bank Celebrates Grand Opening

For Immediate Release

Friday September 6, 2002

Contact: Fred Postlewait
              Oregon Coast Bank

Newport, OR – On Thursday night, Lincoln County’s newest financial institution held a grand opening party for its customers and the community. Fortunately the weather was perfect, because the large crowd spilled out of the Oregon Coast Bank lobby into the parking lot.

Hot dogs and Mo’s clam chowder were served by the bank’s board of directors and staff. The crowd cheered enthusiastically when Fred Postlewait, Oregon Coast Bank’s President and Chief Executive Officer, announced that in less than two months of operation the bank had already surpassed $15 million in total assets. Dr. Richard Beemer, Oregon Coast Bank’s Chairman of the Board, expressed his appreciation to the community and his enthusiasm regarding the bank’s prospects. In his keynote remarks, former Newport Mayor Mark Collson discussed how important locally owned and operated community banks have been to the community. Collson also remarked that with a local investor base of more than 100 people, Oregon Coast Bank would remain locally owned for many years.

Guests enthusiastically took part in a Lincoln County Trivia Contest which finished in a tie with Florence Scanlon, Opal White, and Sandy Mies-Grantham, all residents of Newport, each answering eight of the eleven questions correctly. $25 Gift certificates to Mo’s, The Embarcadero and Bay Brothers were awarded to the winners. Fred Miller of Newport was the runner-up. John Baker, also of Newport, won the “Guess How Much Money Is In The Fish Bowl Contest” with an amazing estimate that was within $1.28 of the actual amount. As his prize, Baker received the contents of the fish bowl, $241.24.

“We opened Oregon Coast Bank because we thought that there was a genuine need for a locally operated financial institution in Lincoln County,” remarked Postlewait. “We’re very pleased with the strong customer response and we look forward to being an active part of the community for years to come.”