Clatsop Community Bank Passes Growth Milestone of $75 Million
August 11, 2014 SEASIDE, OR—On August 6, Clatsop Community Bank announced that it surpassed $75 million in assets for the first time in the bank’s six-year history. Assets include cash, outstanding loans, investment securities and physical property owned by the bank.
This milestone represents an increase of 15.9% compared with total assets of less than $65 million as of June 30, 2013.
“We started Clatsop Community Bank because we identified the need for a locally-owned bank in our area,” said President and CEO Joe Schulte. “There are several factors that have contributed to our growth: the economy is improving; we have a healthy customer retention rate; and, people are increasingly aware of how shopping locally impacts the health of their community. They understand they can affect even greater impact when they bank locally as well.”
Clatsop Community Bank was formed in 2008, and has branches in Astoria and Seaside, Oregon. The bank has been named to Oregon Business magazine’s “100 Best Companies to Work for in Oregon” for five consecutive years. Information about the Company’s stock (symbol CLAT, traded OTC) may be obtained through the OTCQB marketplace at www.otcmarkets.com.