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Oregon Coast Bank Reveals New Tillamook Office Plans

OREGON COAST BANK
909 SE Bay Boulevard
PO Box 2280
Newport, OR 97365

Oregon Coast Bank Reveals New Tillamook Office Plans

For Immediate Release
Tuesday, December 2, 2014

Contact: Fred Postlewait
              Oregon Coast Bank
              541-265-9000

Tillamook, OR – Architectural drawings have been completed and construction has begun on the new Oregon Coast Bank Tillamook office. Located at 2211 North Highway 101, the Tillamook office will be the bank’s sixth branch. Since a significant number of Tillamook families and businesses have been banking at Oregon Coast Bank’s Pacific City office for years, the bank’s new Tillamook location will be a convenient addition to the community. The branch is expected to open during 1st quarter of 2015.

The new 1,567 square foot cedar clad building has been designed to reflect local architecture and will include both a drive-up window and ATM. Four to five employees will serve the office, which features a large open area for customers and a conference room which may be made available for community meetings. Quade Commercial Construction, a central coast based firm which has completed many projects in Tillamook County, is the general contractor and almost all subcontractors are also coastal based.

“We chose Tillamook for our newest office because we are a small town focused community bank that concentrates on coastal families and businesses,” explained Fred Postlewait, President and Chief Executive Officer of Oregon Coast Bank. “Many banks are uncomfortable with traditional coastal industries like hotels, restaurants, logging, and fishing. We have been making those types of loans for more than a dozen years. We also have been doing agricultural lending for about a decade out of our Pacific City office. Becoming a part of the Tillamook community is something we’re very excited about.”

Oregon Coast Bank was founded in 2002 when 115 coastal families pooled their resources to bring a locally-owned and operated financial institution to the central coast. Although the bank has built its reputation on the strong relationships it has with its customers, Oregon Coast Bank also offers a complete suite of online and mobile services that make the convenience of 24-hour global banking a reality.

The bank has grown rapidly yet its financial performance has remained solid, receiving the highest possible safety ranking by nationally-respected ratings services Bauer Financial and Bankrate.com. Oregon Coast Bank’s total assets now exceed $175 million and the bank has reinvested more than $483 million into the communities it serves in the form of real estate, commercial and consumer loans.