South Valley Bank & Trust Enjoys Phenomenal Growth In Central Oregon Bank Plans To Open Additional Branches In The Region
BEND, Ore. – July 24th, 2006 – William E. “Bill” Castle, President & CEO of South Valley Bank & Trust, is pleased to announce that South Valley’s deposits in the greater Central Oregon region have nearly tripled since the bank opened it first Bend branch in the Old Mill District in November of 2004, and commercial loans have increased more than seven-fold. “We attribute our success in Central Oregon to the fact that we stick to the principle the bank was founded on – putting your customers’ business first and consistently delivering the highest levels of service to local businesses and their workers and families,” says Castle.
Plans for additional branch openings throughout Central Oregon position the bank for continued success in the region. South Valley Bank & Trust currently has five branches in the Central Oregon region: two in Bend and one each in Redmond, LaPine and Gilchrist. Over the next two years, the bank plans to open new branches in Sisters, Madras, Prineville and several in Bend.
The bank’s growth in Central Oregon is quantifiable in several aspects:
• Employees: In September of 2004, the bank had 16 employees in Central Oregon including staff in LaPine. Today that number stands at 54, an addition of 38 new jobs.
• Deposits: In November of 2004, the bank’s total deposit base in Central Oregon was $24 million, representing deposits at the LaPine and Gilchrist branches only. Today, the bank's deposit totals in Central Oregon are almost $91 million, an increase of $57 million.
• Commercial Loans: In October of 2004, the bank opened a commercial banking office in Bend with approximately $20 million in outstanding commercial loans. Today, total outstanding commercial loans stand at approximately $149 million. The bank attributes this achievement in great part to the acquisition in October 2004, of Central Oregon’s seasoned Washington Mutual (WAMU) commercial banking team. As a result of WAMU’s termination of the majority of its commercial banking activities in Central Oregon, South Valley was able to successfully recruit WAMU’s entire 13-member business lending team – the second largest commercial lending banking group in the WAMU system at that time. Since the WAMU team joined South Valley, the bank has benefited significantly from its long-standing Central Oregon relationships, experience and knowledge. According to Gary Bruce, South Valley’s Vice President and Central Oregon Region Credit Administrator, “We are pleased to note that all 13 members of the WAMU team that moved to South Valley in 2004, are still with the bank.” “Our team has a combined total of over 150 years of lending experience, and has been primarily responsible for the increase of over $129 million in Central Oregon commercial loans over the past 20 months,” he adds.
• Residential Real Estate: In March of 2005, the bank transferred Courtney Felix, Senior Real Estate Originator, from Klamath Falls to Bend. In little over a year’s time, she has originated approximately $32 million in residential real estate loans in Central Oregon.
The bank looks forward to providing additional convenience to its Central Oregon customers as its plans to open new branches in Central Oregon come to fruition.
South Valley Bank & Trust
Headquartered in Klamath Falls, Oregon, South Valley Bank & Trust was founded in 1976 by local business leaders who wanted to provide community-oriented financial services to businesses and their workers and families. The privately owned financial institution, a subsidiary of South Valley Bancorp, Inc., currently posts assets of approximately $520 million. South Valley Bank & Trust maintains its hometown banking tradition providing local management and decision-making at 12 branches in Klamath Falls, Lakeview, Gilchrist, La Pine, Medford, Bend, Redmond and White City. The bank that puts Your Business First delivers a broad range of business and personal banking products and services as well as trust, estate and retirement services. Through a subsidiary, South Valley Wealth Management, the bank also offers investment services for individual, corporate and non-profit clients. For more information about South Valley Bank & Trust, visit http://www.southvalleybank.com/.