909 SE Bay Boulevard
PO BOX 2280
Newport, OR 97365

Oregon Coast Bank Adds Two to Real Estate Lending Team

For Immediate Release

Wednesday, July 24, 2003

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

Newport, OR – Having funded more than $30 million in loans in just its first year of operations, Newport-based Oregon Coast Bank has expanded its Real Estate Lending department with the addition of Betty Bell and Linda Christian.

Bell, a resident of Lincoln City and a 22 year veteran of the mortgage industry, will serve as a Loan Underwriter. She joins Oregon Coast Bank after having worked as a contract underwriter for a wide variety of banks and mortgage companies throughout Oregon, Washington and California. Bell holds degrees in marketing, finance and interior design. In her spare time she enjoys, gardening, travel and belongs to a Lincoln County Corvette club. Bell cites a desire “to be able to put down roots in the community” as a prime reason she chose to join Oregon Coast Bank.

Christian, who grew up in Newport and has resided in Waldport for three years, will serve as a Loan Officer. A graduate of Newport High School who attended both Oregon Coast Community College and Portland Community College, Christian began her mortgage career as a broker coordinator for Meritage Mortgage Corporation in Lake Oswego. Most recently, she worked as a Home Mortgage Consultant for Wells Fargo in Lincoln City. She lists snowboarding, jet-skiing, dancing and caring for her one year old son as her passions. “Oregon Coast Bank cares about the people in this community and I’m thrilled to have an opportunity to be a part of it,” she remarked.

Headed by Bernie Holt, Oregon Coast Bank’s Real Estate Lending department has grown rapidly by providing competitive rates, fast approvals and hands-on local service. The bank now offers conventional home loans, condominium loans, manufactured home loans, land loans, construction loans, bridge loans, reverse mortgages, VA & ODVA loans, home equity lines of credit, as well as loans for commercial properties, second homes, rental properties and “fixer-uppers”. The bank also offers financing for first-time home buyers, self-employed buyers and credit challenged individuals.

“Bernie and his team have done a great job of simplifying the mortgage process for our customers,” commented Fred Postlewait, Oregon Coast Bank’s president and chief executive officer. “That’s led to a lot of referral business, so it’s nice having more help in the department – we think Betty and Linda are great additions.”

Oregon Coast Bank, which is both locally owned and operated, is located on Newport’s bayfront across from the Embarcadero. The bank’s total assets currently exceed $33 million.