909 SE Bay Boulevard
PO Box 2880
Newport, OR 97365

Vickie Spencer Name Senior Vice President of Oregon Coast Bank

For Immediate Release

Monday, April 8, 2002

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

Newport, OR – Longtime local banker, Vickie Spencer will join the management team at Oregon Coast Bank (in organization) as senior vice president. The bank, which has received conditional approval from both the state of Oregon and the Federal Deposit Insurance Corporation, will open at the conclusion of its initial stock offering. Spencer and Fred Postlewait, the bank’s president and chief executive officer, have already begun preparations for the bank’s opening.

Born and raised in Newberg, Spencer attended Portland State University. In 1980 she began her local banking career at the Bank of Newport. During 1982 she went to work for National Security Bank, serving as secretary for Tom Moore, the bank’s president. Soon after, Spencer was promoted to loan officer and later served as assistant vice president. When National Security Bank was sold to West One Bank, Spencer was named vice president. In April 1996, Spencer became part of the management team that was to open Lincoln Security Bank. She was promoted to senior vice president in April 2001 and served in that position until January of this year, when she left the bank after it had been acquired by Umpqua Bank, a regional chain.

“I’ve been very fortunate to have been able to be part of the management team of two very successful community banks,” commented Spencer. “I’ve always felt that I could serve my customers better in a locally owned and operated bank, which is exactly the type of institution that Oregon Coast Bank will be.”

“All of us on the board are very pleased that Vickie accepted our offer to join our management team,” explained Cindy McEntee, a member of the Oregon Coast Bank board of directors. “She has a tremendous rapport with her customers and was a major reason why Lincoln Security Bank grew so rapidly.”

Deeply involved in the community, Spencer is a past president of the Greater Newport Chamber of Commerce. She is a longtime member and has served as treasurer of Altrusa. Spencer has been involved with the Newport Seafood & Wine Festival committee and the Pacific Communities Hospital Foundation’s Festival of Trees. She is also involved with a book club made up of colleagues in the local banking industry and customers.

Vickie and her husband, Wayne, a Newport High School social studies teacher, reside in Newport with Mookie, their beloved golden retriever. The couple has one daughter, Brooke, 21, a student at the University of Oregon. Much of their time is devoted to the Newport High School varsity softball team, which Wayne coaches. The couple also golfs and rarely misses University of Oregon football games.

When it opens, Oregon Coast Bank (in organization) will be the only locally owned and operated financial institution on the central coast. Interest in the bank by both investors and customers has been high. Prior to beginning its initial stock offering on March 18th, the bank received over $4 million in “letters of intent” from individuals. Investors interested in participating in the initial stock offering can obtain a prospectus from Spencer, Postlewait or any of the bank’s board of directors by calling 541-265-9000.