Clatsop Community Bank Posts Highest Growth Rate for Local Market

October 7, 2013

SEASIDE, OR – Of the six banks serving Clatsop County, Clatsop Community Bank posted the highest rate of deposit growth for the 12-month period ending June 30, 2013. Figures released by the FDIC showed deposits of over $57 million for the bank at the end of the period, which is an increase of more than 10 percent compared to the previous 12-month period.

By the end of August, deposits for the bank had grown to more than $62 million.

“We’ve steadily increased our market share since we opened the bank five years ago,” said President and CEO Joe Schulte. “And we’re very close to overtaking the next larger competitor in the rankings,” he added.

As of the June 30, 2013 year-end date, combined deposits for all institutions across the county had fallen slightly compared to June 30, 2012.

“Achieving this increase while deposit growth is stagnant countywide is exciting, and a testament to our talented staff,” Schulte said. “We continue to bring new customers onboard—most are attracted by the fact that we’re a local institution, and they know our reputation for strong customer service. This, coupled with the dedicated business development team we have stationed in north and south Clatsop County, makes me confident we’ll continue our growth pattern,” he added.

Clatsop Community Bank opened in 2008 in Seaside, Oregon and is the only bank locally owned in Clatsop County. In 2013 the bank was named among Oregon’s 100 Best Companies to Work For by Oregon Business magazine for the fourth consecutive year.