Clatsop Community Bank passes $100 million milestone
Seaside, OR— Clatsop Community Bank announced today (September 13, 2018) that it exceeded $100 million in assets for the first time in the bank’s 10-year history. The announcement comes shortly after the bank issued its first dividend to shareholders in August.
“We are so pleased to have reached this significant milestone,” said President and CEO Joe Schulte. “It speaks to the confidence our community, our clients and our shareholders have placed in us, as well as to the dedication and hard work of our talented staff and management team,” he added. “We are fortunate to serve many great businesses, individuals and families in Clatsop County, and we value the relationships we’ve built together,” he said.
About Clatsop Community Bank:
Clatsop Community Bank was formed in 2008 to serve Clatsop County and neighboring counties as the only locally-owned and operated bank in the area. The Bank has been named among the “100 Best Companies to Work for in Oregon” by Oregon Business Magazine. Clatsop Community Bank’s stock symbol is CLAT. Information about the Company’s stock may be obtained through the OTCQB marketplace at www.otcmarkets.com. For more information about Clatsop Community Bank, visit our website at www.clatsopbank.com. Information contained in or linked to our website is not incorporated as a part of this release.
Certain statements in this release may constitute forward-looking statements within the definition of the “safe-harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to significant uncertainties, which could cause actual results to differ materially from those set forth in such statements. Forward-looking statements are those that incorporate management’s current expectations and plans based on information currently known to them. These statements can sometimes be identified by words such as “believe,” “estimate,” “anticipate,” “expect,” “intend,” “will,” “may,” “should,” or other similar phrases or words. Readers are cautioned not to place undue reliance on forward-looking statements. In particular, they should not be construed as assurances of a given level of performance or as promises of a given set of management’s actions. Some of the factors that could cause management to deviate from its current plans, or could cause the Company’s results to differ from current expectations, include the effect of localized or regional economic shifts that may affect the collectability of loans or the value of the collateral underlying those loans; the effects of laws, regulations, policies and government actions upon the Company’s assets and operations; sensitivity to the Northwestern Oregon geographic markets and events affecting those markets; and the impacts of new government initiatives upon us and our borrowers. The Company does not intend to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.