909 SE Bay Boulevard
PO BOX 2280
Newport, OR 97365

Overflow Crowd Celebrates Opening of Oregon Coast Bank’s New Pacific City Office

For Immediate Release

Wednesday, August 25, 2004

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

Pacific City, OR – More than 350 people joined in the festivities as the new Pacific City office of Oregon Coast Bank was dedicated on Tuesday evening. Remodeling of the 3000 square foot building, which is located at 35490 Airport Way, began in March. Quade Construction of Lincoln City was the general contractor, with subcontracting services performed by a variety of other central coast professionals. The project was completed on time and on budget.

Refreshments at the event included barbecued salmon and albacore tuna, fresh oysters, Harvest Fresh Deli garlic bread, Mo’s chowder, Mo’s shrimp and cabbage salad, and a variety of cakes. The crowd enjoyed live jazz by the duo “Mario & Brent”.

In honor of community banking, a 12-question South Tillamook County Trivia Contest was held. Butch Walty of Pacific City won the first place prize of a $50 gift certificate to Pelican Pub & Brewery. Second place winner Noni Wharton of Cloverdale received a $40 gift certificate from Village Merchants. Jim Allen of Pacific City took third place and won a $35 gift certificate from Pacific City Gallery. Fourth place winner Ed Hurliman of Pacific City won a $25 gift certificate from Grateful Bread Bakery & Restaurant. Jack Gilman of Cloverdale placed fifth, earning a $25 gift certificate from Pacific City Imprints & Gifts.

Jana Ackerman of Beaver was the winner of the “Guess How Much Money is in the Fishbowl” contest, coming within 23 cents of the actual amount. For her winning entry, Ackerman will receive $186.23, the amount in the fish bowl. A children’s version of the fishbowl game was won by Blake Martinez of Pacific City, who came within $7.50 of the actual amount. Martinez’s winnings totaled $77.50.

In his brief remarks, Fred Postlewait, President and Chief Executive Office of Oregon Coast Bank, thanked the community for its support. Open officially less than a month, Oregon Coast Bank’s Pacific City office already has more than $7 million in deposits and has made loans totaling over a million dollars. Board members Duane Edwards and Cindy McEntee spoke of the bank’s commitment to local merchants. Frank Brawner of Neskowin, former Chief Executive Officer of the Oregon Banker’s Association and also an Oregon Coast Bank board member, discussed the value of community banking. Retiring Tillamook County Commissioner and former State Representative Paul Hanneman joked with the crowd and had the honor of cutting the ceremonial ribbon which was made of dollar bills.

Oregon Coast Bank was chartered in Newport during 2002 when a group of area businesspeople came to the conclusion that the central coast needed a locally owned community bank. More than 145 central coast residents invested in the bank and in just 25 months Oregon Coast Bank has grown to more than $55 million in assets. The bank has consistently received high marks from consumers for customer service. With all loan decisions made here on the coast, Oregon Coast Bank is able to offer quick response times and custom lending.

“When you see board members, staff and family side-by-side serving seafood to our customers, you can understand the spirit that has made Oregon Coast Bank so successful,” observed longtime area banker Rose Wharton, manager of Oregon Coast Bank’s Pacific City office. “To have so many people come out to celebrate the Grand Opening of this office was beyond our most optimistic expectations.”